Malaysia Gold price today: Gold rises, according to FXStreet data
Gold rises cautiously as Fed hike bets, US‑Iran tensions and bullish USD cap gains
Gold edges lower to near $4,000 as US-Iran tensions fuel inflation worries
It's been a brutal four-month stretch for Gold and that statement really can be spanned back to six months, as it was January 29th when the metal had set its current all-time-high just below $5600/oz. The initial pullback from that move was violent, with prices testing just above the $4400 handle a few days later, but that move was bid as late-stage buyers posed a bounce, and that move inevitably topped out at a lower-high of $5400/oz in early-March.
Stronger dollar put additional pressure on gold markets in today's trading session.
So, all in all, the loudest weekend of the war produced American deaths, a collapsed ceasefire, and oil at a one-month high, and gold could not hold thirty dollars of a bounce.
Gold is caught between Iran war demand and rising rate pressure as higher oil, firm yields and a stronger dollar cap the metal's upside.
The gold market has bounced a bit during the early part of the trading session on Monday, as we continue to see the death cross loom large. At this point in time, the market still watches several things at once.
Gold holds below 4100 while maintaining the drop pressure over the market. As we see from the chart, prices face support around 3940-45 with resistances at 4050-60 which could hold a trading zone.
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