Gold Price Forecast: XAU/USD around $4,660, bears sharpening their claws
Gold price trades sideways as oil-driven inflation clouds the gold market outlook. Gold analysis shows breakout pressure building as Fed policy limits upside.
Gold continues to see a lot of noise from both the rates markets, and the geopolitical headlines, as traders continue to move in and out of gold.
Gold moved back to hold above 4620 which is still pushing towards the 4820-60 zone. Below 4600 a drop risk could return towards the 4306 support.
Gold edges higher as US-Iran ceasefire talks lift market sentiment
Gold declined to 4,600 USD per troy ounce on Monday, extending losses from the previous session. Pressure intensified after Donald Trump issued a new ultimatum to Iran, threatening strikes on energy and civilian infrastructure unless the Strait of Hormuz is reopened.
Gold trades near $4,690 as a potential 45-day truce offsets Middle East jitters. Explore why the $4,700 level is the critical pivot for XAUUSD bulls today.
The price traded close to $4,800 before there was a downside correction. There was a move below $4,750 and $4,700.
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
Gold holds above $4,400 but struggles to break $4,800 as a stronger US dollar and rising rate expectations keep pressure on prices despite a broader bullish trend.