GOLD

Gold trades below resistance zone $4850 with prices likely to move in a sideways range between the mentioned resistance and support at $4600 in today trading.
|
Support |
4600 | 4350 |
| Resistance | 4850 |
5100 |
Gold prices declined during today’s trading after failing to maintain the upward momentum seen in previous sessions, as safe haven demand eased alongside a relative improvement in risk appetite and continued monitoring of geopolitical developments. This movement comes amid overlapping factors, most notably the progress of US Iran negotiations and anticipation of signals from US monetary policy, which has kept gold trading cautiously within a limited range, with ongoing pressures restricting any strong upside in the near term.
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