GOLD
Gold trades in a medium term downtrend, which opens the way for prices to decline and form new lows, but if prices break above $4330 resistance, we may target $4530 during today’s trading.
|
Support |
4000 | 3800 |
| Resistance | 4330 |
4530 |
Gold fell to its lowest level in more than six months before later trimming its losses, supported by some buying near lower levels. The main pressure came from rising expectations for U.S. interest rates after strong inflation data, alongside higher energy prices driven by the escalation between the United States and Iran, which increased concerns that monetary policy could remain tight for longer. Although geopolitical tensions usually support gold as a safe haven, dollar strength and higher yields limited gains for the precious metal, leaving gold’s movement in the coming sessions tied to U.S. inflation data and the path of Federal Reserve decisions.
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