Gold
Gold is trading above the 4100$ support zone, and this area is expected to limit the pace of the decline in today’s trading.
|
Support |
4100 | 3975 |
| Resistance | 4300 |
4430 |
Gold prices edged higher after falling 4% in the previous session, but they remained near a seven-week low. The ongoing crisis in the Strait of Hormuz continues to support oil prices and increase inflation concerns, keeping bond yields elevated and weighing on gold’s movements. The precious metal is trading near $4,131 per ounce as markets monitor energy developments and the outlook for U.S. interest rates.
The U.S. dollar maintained its trading near a two-month high, supported by continued gains in U.S. Treasury yields and rising market expectations for a more hawkish stance from the Federal Reserve in the coming period. The Dollar Index stood at 101.20 points after weekly gains of nearly 1%, while higher oil prices pushed investors toward greater caution ahead of key economic data that could influence the future path of monetary policy. In the bond market, the 10-year Treasury yield climbed to its highest level since 2007, signaling continued pressure across financial markets.
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