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
India Gold price today: Gold falls, according to FXStreet data
Malaysia Gold price today: Gold falls, according to FXStreet data
Gold struggles near $4,700 as Hormuz risks and inflation-driven Fed repricing lift USD
Gold drifts lower below $4,750 amid Trump's extension of a ceasefire with Iran
It is becoming a challenging period for gold price action in the short term, as the metal has not been able to build enough strength to sustain a solid bullish move. In fact, over the last three trading sessions, gold has posted a decline of nearly 2.00%, starting to reflect a short-term weakness scenario.
Gold steadies near $4,700 as lower US yields offset Iran risks
It looks like the corrective rebound is over or very close to being over.
Gold rally lacks follow-through as strong dollar weighs. Gold market tracks $4744.34 pivot; move above $4881.30 or below $4644.46 sets direction.
Small sample sizing is a dangerous thing in technical analysis because it can be attractive and even inducing, to look at something that's happened a few times and expecting it to happen again. And then, when it doesn't happen, it seems that all hope is lost and suddenly sentiment sours.