Gold sees a lot of choppiness on Tuesday, as we are waiting for clarity yet again in the Middle East. At this point, it is a very difficult market to trade in.
Gold prices slipped more than 1% by midday in London as investors attempted to digest another turn in the US-Iran narrative. While geopolitical uncertainty would normally provide a stronger haven bid for bullion, this narrative is complicated by a rebounding in energy prices and bond yields.
Gold prices rise as falling oil and softer PCE expectations support lower yields. See what could drive the next move in XAU/USD.
With the stable Middle East truce reducing geopolitical risk premium, gold and silver reacted to technical levels. Gold tested $4,523 channel floor with bearish continuation while silver held near $76.12.
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
Pakistan Gold price today: Gold falls, according to FXStreet data
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Silver and platinum markets gained strong upside momentum in today's trading session.