Gold holds below two-week top as Iran risks and hawkish Fed bets underpin USD
Gold managed to claw back some ground over the last couple of sessions, but despite the rebound, the precious metal still end.
The last trading week of May is coming to an end, and gold has managed to recover some short-term bullish strength. During the session, the metal posted a gain of more than 1.2%, showing a renewed buying bias toward the end of the week.
Gold is showing early signs of a bullish reversal as buyers defend long-term support and pressure key resistance near the 50-day moving average.
Spot Gold rallies 1% as ceasefire framework pulls oil lower and the dollar weakens. The 50-day MA at $4,628 is the line between a bounce and a breakout.
United States CFTC Gold NC Net Positions fell from previous $159.8K to $154.3K
Gold climbs on US‑Iran ceasefire progress as Fed rate hike bets fade
Gold prices gained ground as traders bet that U.S. will reach a deal with Iran soon.
Gold bounces back for the week as the buyers came into the market to defend it against the interest rate pressures. This is a market I am bullish on longer-term, but recognize the potential problems.
Metals and mining stocks are consolidating after explosive gains in 2025, which is a normal part of a strong bull market.
Gold extends recovery on US-Iran deal hopes, but hawkish Fed signals limit upside
Gold Price Forecast: XAU/USD recovers further to near $4,530 amid falling Oil prices