Gold opened with gap-lower on Monday, hitting levels around $150 lower from Friday's high, as sentiment changed again on escalation over the weekend that resulted in closure of Hormuz strait.
Gold remained under pressure as tensions returned in middle east after the US broke the ceasefire agreement. As we see over the chart, the Intraday levels still showing the chance for an advance wave as the market holds above the support trend at 4695 which could lead to a further advance.
Gold: Buy dips as geopolitics whipsaw risk – OCBC
Gold (XAUUSD) slides to $4,780 as the US Navy seizes an Iranian vessel, reigniting inflation fears and boosting the USD. Analyze the 50-EMA support and $4,890 resistance.
Gold price extended losses below $4,800 before the bulls appeared. WTI Crude oil prices are rising and could climb further higher toward $92.00.
United Arab Emirates Gold price today: Gold falls, according to FXStreet data
Pakistan Gold price today: Gold falls, according to FXStreet data
Gold struggles to extend recovery beyond 100-hour SMA as rising US bond yields cap gains
India Gold price today: Gold falls, according to FXStreet data
Malaysia Gold price today: Gold falls, according to FXStreet data
Gold gapped lower at the week's open as cracks in the US–Iran ceasefire deepened just days before the April 22 expiry. Yet markets have stopped short of panic for now, with oil prices rising but still restrained—falling short of signaling a full repricing toward war.
Gold extends its rebound into key resistance while holding strong support confluence, signaling continued upside potential if the 50-day moving average is decisively reclaimed.