Gold rises on softer US Dollar, traders await Trump's address on Iran war
Gold strengthens above key moving averages, signaling bullish momentum, with price action targeting a critical resistance zone between $4,874 and $5,000 if support levels hold.
Gold price extends rally toward $4850.68–$5028.04 resistance as dollar weakens. Gold market faces key test with rate outlook capping upside.
Gold nears $4,800 as fading Dollar lifts bullion for fourth consecutive day
Gold has rebounded sharply after a steep corrective decline, shifting near-term momentum as price approaches a critical technical inflection zone. The recovery highlights a potential stabilization in the recent selloff, but the broader outlook remains uncertain as price tests a key resistance area.
Silver and platinum have also moved higher amid rising demand for precious metals.
Gold remains in green for the fourth consecutive day and rose to the highest levels since Mar 19 in early Tuesday trading, in extension of Monday's strong acceleration (gold was up nearly 3.5% for the day, in the biggest daily gain since Feb 6).
Gold continues to rally early on Wednesday as interest rates in the US continue to ease on hopes that the war will slow down or even stop.
Gold Price Forecast: XAU/USD rallies further with the $5,000 level on focus
Gold extends gains near two-week highs amid optimism over US–Iran war
Gold passed above 4640 and managed to hit the target of 4735. As we see from the chart and despite a few dollars move above the resistance of 4735, prices have the chance for a drop with supports at 4660 and 4600-20 still protecting the advance wave towards a further advance to the 4865-99 […]
Gold prices rose more than 4% on Wednesday, approaching 4,690 USD per ounce amid signs of easing tensions in the Middle East. Expectations of de-escalation could lead to lower oil prices and reduced concerns about further tightening of central bank policy.