XAU/USD Gold stays limited below the $4,000 mark while slightly rising from session lows in the $3,965
continues to be impacted by growing tensions between the US and Iran as well as rising oil prices. XAU/USD is on course for a weekly fall of 3%, with the YTD low of $3,941 at a short
(XAU/USD) saw modest increases on Friday, but it is still near its year-to-date lows at the $3,940 region. Upside attempts are now limited below the $4,000 psychological threshold. Due to the resumption of US-Iranian hostilities and rising oil costs, which have counteracted the benefits of lower US Treasury yields, the precious metal is expected to drop by 3% each
tensions in Iran increased and US President Donald Trump threatened to target civilian infrastructure, including power stations and bridges, bullion fell on Thursday. In response, Tehran threatened to close the Strait of Bab el-Mandeb, which would severely restrict the flow of oil and put the world economy in danger of going into recession. With the exception of the bullish divergence in the Relative Strength Index (RSI), XAU/USD trades are still on a bearish trend from February's highs with no obvious indication of a trend change in the near future. With the aforementioned RSI below 40 and the Moving Average Convergence Divergence (MACD) slightly below zero, momentum indicators in the 4-hour period are still in a bearish zone, indicating that rallies will find
of this writing, the psychological $4,000 barrier is holding bulls, blocking the way to mid-July highs in the $4,100 range and the trendline resistance around $4,075. To relieve bearish pressure and refocus attention on July's peak, which is in the $4,200 region, these levels must clearly break.
