Although gold prices have shown a steady recovery throughout the trading week, XAU/USD has failed to maintain consistent buying momentum into the close, posting a decline of around 0.5% during the session. This suggests that, beyond the recent upward movement, a neutral short-term dynamic is beginning to take shape.
United States CFTC Gold NC Net Positions: $156.3K vs previous $163.2K
Gold steady near $4,760 as Iran talks weigh on US Dollar
Silver moved higher, while platinum found itself under pressure in today's trading session.
The gold market looks like it is waiting for a result from the talks over the weekend between Iran and the United States. Interest rates continue to move the markets as well, as they are in flux to say the least.
Gold has maintained a nice uptrend since the 23 March crash. However, the price spends a lot of time near the lower boundary of the channel and quickly rebounds from its upper boundary.
Gold managed to meet the 4820-60 target zone and dropped towards the support of 4700. As we see from the chart, Intraday support is at 4700 while the target and resistance is at 4920-50 which could hold this uptrend channel.
The NBP increased its gold reserves in March 2026 by about 13 tons, taking advantage of a sharp price correction. Total holdings rose to around 580 tons.
Gold price holds firm as traders watch $4744.34 pivot and CPI data. Rising rate cut bets and a weaker dollar keep the gold market bias tilted higher.
Gold holds steady in a narrow range ahead of US CPI data
Gold: Slight upside risk with fragile ceasefire – OCBC
Gold: Constructive longer‑term outlook despite volatility – ING