Gold continues to see a lot of noise, mainly from random headlines and tweets coming out in somewhat thin times of the day.
Gold: Correlation with oil turns supportive – Commerzbank
Crude oil prices remain anchored near the $100 threshold, pointing to further upside risks as the Strait of Hormuz disruption and broader Middle East energy infrastructure risks continue. Headline-driven sentiment remains volatile, swinging on Trump's comments between de-escalation efforts, safe passage through the Strait of Hormuz, and renewed threats toward Iran.
Gold (XAUUSD) battles critical resistance at $4,606; a sustained breakout could clear a path toward the $4,725 zone.
Gold hovers below $4,600 as traders weigh Mideast de-escalation hopes and interest rate outlook
Gold Price Forecast: XAU/USD bulls remain capped below $4,600
Gold hit the target of the 4600-10 zone. As we see from the Intraday chart, the market is still holding trades inside an uptrend channel with support around 4480 and resistance around 4620-40.
Gold prices are attempting to stabilise after a sharp selloff, but the recovery lacks conviction. While a bullish hammer on the weekly chart hinted at support, follow-through has been weak and price action on the daily timeframe points to a potential dead cat bounce.
Saudi Arabia Gold price today: Gold rises, according to FXStreet data
Philippines Gold price today: Gold rises, according to FXStreet data
United Arab Emirates Gold price today: Gold rises, according to FXStreet data
Pakistan Gold price today: Gold rises, according to FXStreet data