Gold broke below 4240 yesterday, which may lead to further downside. Short-term indicators show support around 4100, which may trigger a corrective rebound toward 4265 and higher.
Pressure on the precious metal intensified following a new escalation of tensions in the Middle East. The US launched strikes against Iranian targets after reports that an American helicopter had been shot down.
Saudi Arabia 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
India Gold price today: Gold falls, according to FXStreet data
Malaysia Gold price today: Gold falls, according to FXStreet data
Gold's selloff accelerated again as fresh headlines from the Middle East suggest the US and Iran are moving further away from a peace deal rather than closer to one. With the Strait of Hormuz still constrained and energy markets facing prolonged disruption, investors continue to focus on the inflation fallout.
Gold plummets below $4,200 as US‑Iran tensions spur hawkish rate bets ahead of US CPI
Gold failed to surpass $4,600 and started a fresh decline against the US Dollar. The price dipped below $4,550 and $4,500 to enter a bearish zone.
Gold slumps below $4,250 on renewed US-Iran tensions, US CPI data in focus
Gold continues testing Fibonacci and moving average support after breaking below the 200-day moving average, signaling weakening bullish structure and increasing downside risk.