Gold and silver eased after a conditional US-Iran truce reduced immediate Hormuz disruption fears. While central bank buying, especially from China, continues to provide underlying support, both metals remain trapped in descending channels.
Gold: Rising yields keep pressure on prices – ING
Saudi Arabia Gold price today: Gold rises, according to FXStreet data
Philippines Gold price today: Gold rises, according to FXStreet data
United Arab Emirates Gold price today: Gold rises, according to FXStreet data
Pakistan Gold price today: Gold rises, according to FXStreet data
India Gold price today: Gold rises, according to FXStreet data
Malaysia Gold price today: Gold rises, according to FXStreet data
Gold rebounds from over one-month low; upside potential seems limited
The 4-hour chart of XAU/USD indicates that the price even declined below $4,600, the 100 Simple Moving Average (red, 4 hours), and the 200 Simple Moving Average (green, 4 hours). A low was formed at $4,500, and the price is now consolidating losses.
Gold resumed its near-term slide as tensions in the Strait of Hormuz escalated sharply, after Iran struck multiple vessels and set a UAE oil port ablaze. The developments triggered a fresh surge in oil prices and lifted the Dollar on safe-haven demand, reinforcing downside pressure on precious metals.
Gold slides below $4,550 as Iran tensions lift Dollar, yields now