Gold resumed the rally after the US Treasury announced last week of doubling the amount of purchasing long-term bonds. As we see over the Intraday chart, the market is facing several supports that can send the metal towards the 4775 level.
Gold and silver remain supported as Fed pause expectations rise and Iran tensions persist, with XAU/USD testing $4,661 resistance.
Gold: Upside risks building as fiscal worries grow – ING
Gold eyes $4772.17 to $4968.06 as PCE inflation and Warsh's Jackson Hole speech decide whether the weak-dollar rally continues.
Saudi Arabia Gold price today: Gold rises, according to FXStreet data
Philippines Gold price today: Gold rises, according to FXStreet data
United Arab Emirates Gold price today: Gold rises, according to FXStreet data
Pakistan Gold price today: Gold rises, according to FXStreet data
Gold hits fresh high since mid-May as lower bond yields and fading Fed bets undermine USD
India Gold price today: Gold rises, according to FXStreet data
Malaysia Gold price today: Gold rises, according to FXStreet data
Markets moved cautiously into the new week, weighing an escalating standoff with Iran, a deepening trade impasse between the US and Canada, and fresh concerns over the pace of China's economic growth. The mix of geopolitical and macro headwinds left risk sentiment mixed across Asia-Pacific markets on Monday.