Malaysia Gold price today: Gold falls, according to FXStreet data
Gold struggles below $4,700 as US-Iran tensions support USD ahead of FOMC meeting
Gold consolidates below key moving averages after a wedge breakdown, with resistance near recent highs while price structure remains poised for either continuation or recovery.
Gold slides below $4,700 as Iran impasse lifts yields, Dollar bid
The lack of progress in U.S. – Iran negotiations puts pressure on gold markets.
Gold price retreats as higher-for-longer rate fears dominate. With three central banks deciding this week, the gold market awaits a dovish signal before bulls return.
Gold continues to struggle with the lack of clarity in the Middle East at the moment, as it obviously has an influence on the bond markets. With this, neutrality remains a constant.
The DAX, together with European markets, started the week on a stronger footing, despite a backdrop of rising geopolitical tensions and elevated oil prices.
Gold fell below 4695 which could lead to a further drop. As we see from the chart, the market is facing a resistance zone at 4765-95, where as long as prices hold below it, the drop pressure could continue as support at 4554 could push for a rebound.
Gold fell below 4,700 USD per troy ounce on Monday, extending last week's losses. Pressure on the precious metal has intensified following the breakdown of attempts to resume negotiations between the US and Iran, as well as the continued closure of the Strait of Hormuz, supporting inflationary risks.
Gold Price Forecast: XAU/USD hesitates around $4,700 with geopolitics, central banks eyed
Gold clings to $4,710 support while Silver faces industrial volatility. Discover key Fibonacci levels and technical trade ideas for XAU/USD and XAG/USD today.