Gold managed to fall below the 4590 support and managed to add more of a boost drop ahead of the support zone 4500-10. As we see over the chart, and as long as the market remains above 4500-10, a chance for another rebound towards the 4850-90 zone could hit the market.
With geopolitical risk premium fading due to the ongoing truce, focus shifted to macro signals after sticky inflation data. Gold broke lower to $4,540 targeting $4,503 while silver held $76 Fib support with mild stabilization.
India Gold price today: Gold falls, according to FXStreet data
Malaysia Gold price today: Gold falls, according to FXStreet data
Gold weakens as stalled US‑Iran talks and Fed hike bets bolster US Dollar
Gold rebounds above $4,550 on weaker US Dollar
The gold price in US dollars (XAU/USD) traded at 4562.406890, up 0.50%, recovering after a sharp recent pullback from above 4700. Gold has been pressured by rising US yields and a stronger Dollar, but Goldman Sachs argues the underlying central-bank demand story remains more resilient than recent data suggested.
After last week's quite sharp moves, several markets are now sitting right on top of make-or-break technical levels.
Gold steadies as USD slips, Fed hike bets cap upside
The gold market looks like a market that will remain noisy, as interest rates in the US and beyond are rising. In this environment, movements tend to be volatile.
Gold back to $5,400? Here's why Goldman Sachs still sees bullish potential ahead
The US dollar posted its best weekly gain in the last two months on the realisation that the conflict in the Middle East is set to continue. The US-China summit failed to yield any breakthroughs on unblocking the Strait of Hormuz, and Donald Trump's threats are not working.