Gold climbs on US-Iran ceasefire as softer Dollar, Oil lend support
Silver and platinum rally as traders react to the sell-off in the oil markets.
Gold's "war premium" is fading after the US-Iran ceasefire sparked a rally, now stalled near $4900 resistance. The metal faces binary risks: a truce failure could send it to $4500, while strong net-long sentiment suggests a near-term slide.
Gold markets jumped after a ceasefire was agreed upon between the United States, Israel, and Iran. With rates dropping, non-yielding assets start to look attractive again.
Gold: High carry costs now, $5,000 target later – TD Securities
Gold climbs as US-Iran ceasefire weighs on US Dollar
Gold: Ceasefire rally driven by yields and rates – Commerzbank
Today's Gold Support Points: $4760 – $4710 – $4630 per ounce.
Gold: Ceasefire lifts prices as traders watch Hormuz – DBS
Markets are pricing in a temporary easing in geopolitical risk following the ceasefire agreement. While gold is consolidating near the 4800 resistance level, Bitcoin continues to trade below the 75,000 threshold, reflecting hesitation in confirming a broader risk-on environment.
Gold (XAUUSD) jumps 4% as a US-Iran ceasefire deal reshapes safe-haven demand. Discover why the $4,850 level is the critical technical pivot for bulls on April 8.
Gold managed to meet the 4820-60 target zone. 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.