Experts agree: Gold is going nowhere as long as Iran war continues
The ongoing US-Iran ceasefire allowed gold and silver to focus on technical recoveries. Gold defended $4,534 support with bullish continuation while silver surged above $76.55.
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Gold is trapped between two competing narratives, and neither side is winning decisively. Last week, the precious metal rebounded after successfully defending a major support cluster around 4,400, only to see the recovery stall below 4,600 resistance.
Gold declines below $4,500 as Iran tensions stoke inflation fears and bolster Fed hike bets
Gold slides amid fragile US-Iran ceasefire that jolts US Dollar, Oil
Tensions in the Middle East put pressure on gold markets.
Oil prices, already higher on the day, spiked again in the afternoon trading, as stocks, crypto and FX markets all turned volatile on renewed escalation of Middle East tensions. Reports suggest that Iran has stopped talks with US in protest over Israel's bombing of Lebanon.