Gold had a near-perfect macro backdrop to extend higher last week, with Dollar weakness intensifying ahead of the Islamabad talks between the US and Iran. Yet, the rally has struggled to gain traction toward the $5,000 psychological level.
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
India Gold price today: Gold falls, according to FXStreet data
Malaysia Gold price today: Gold falls, according to FXStreet data
Gold bulls seem hesitant as failed US‑Iran talks and hawkish Fed bets support USD
Sharp losses in the Nikkei 225, ASX 200 and gold sparked by developments surrounding the Iran war have started to reverse during the Asian session on Monday, continuing the recent pattern of riskier asset classes fading an escalation in geopolitical tensions.
Gold price faces pressure as $100+ oil and hot PPI raise Fed rate risks. Can bullish sentiment hold, or will the gold market turn lower this week?
Gold falls to near $4,650 as Oil surge, US–Iran tensions hit Fed cuts
The gold outlook may have turned a bit more bearish heading into the new week, with geopolitics once again being the reason. The recently announced ceasefire agreement between the US and Iran had taken some heat out of the market.