Gold and silver remain under pressure as a stronger U.S. dollar, higher oil prices, and Fed policy risks weigh on precious metals, while traders watch key breakout levels at $5,000 for gold and $89 for silver.
Saudi Arabia Gold price today: Gold falls, according to FXStreet data
Philippines Gold price today: Gold falls, according to FXStreet data
United Arab Emirates Gold price today: Gold falls, according to FXStreet data
Pakistan Gold price today: Gold falls, according to FXStreet data
India Gold price today: Gold falls, according to FXStreet data
Malaysia Gold price today: Gold falls, according to FXStreet data
Gold holds below two-week top as Iran risks and hawkish Fed bets underpin USD
Gold managed to claw back some ground over the last couple of sessions, but despite the rebound, the precious metal still end.
The last trading week of May is coming to an end, and gold has managed to recover some short-term bullish strength. During the session, the metal posted a gain of more than 1.2%, showing a renewed buying bias toward the end of the week.
Gold is showing early signs of a bullish reversal as buyers defend long-term support and pressure key resistance near the 50-day moving average.
Spot Gold rallies 1% as ceasefire framework pulls oil lower and the dollar weakens. The 50-day MA at $4,628 is the line between a bounce and a breakout.