Gold markets experienced strong volatility in Q1, with record highs followed by sharp corrections. ETF flows reflected investor caution, shifting from strong inflows to outflows by March.
On Friday, the price of gold remained below 4,700 USD per ounce. For the week, the price is expected to decline by approximately 3.0%, as escalating tensions between the US and Iran over the Strait of Hormuz support rising energy prices and heighten concerns about inflation.
Gold (XAUUSD) hovers near the $4,670 pivot as central banks buy 60 tonnes monthly. Will the 0.5 Fibonacci level hold, or are we heading toward a $4,536 retest?
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
India Gold price today: Gold falls, according to FXStreet data
Malaysia Gold price today: Gold falls, according to FXStreet data
Gold seems vulnerable near two-week low as US-Iran standoff and inflation fears lift USD
Gold has experienced a period of significant uncertainty this week as tensions in the Middle East remain on a knife edge. As we head into the upcoming sessions, price action is consolidating around key structural levels, suggesting a breakout may be imminent.
Gold drops below $4,700 on stronger US Dollar, Middle East tensions
Gold breaks down from a rising wedge pattern, with key moving averages failing as support, putting lower targets in focus while broader bullish trend remains intact.