Z Forex
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Gold is trading in a mixed setup. US-Iran tensions and Strait of Hormuz risks keep safe-haven demand alive, but higher-for-longer Fed expectations and a stronger dollar are still limiting the upside.
Short-term pressure remains possible if Treasury yields keep rising. Markets are also pricing a higher chance of another Fed hike, which can weigh on gold because it offers no yield. A deeper pullback could bring the $4,000 area back into focus.
Still, the bigger picture remains supportive. Central banks continue to build gold reserves as geopolitical tensions, sanctions, and global fragmentation increase demand for non-dollar reserve assets.
Technically, XAUUSD is still below the 50-day SMA, so the trend has not fully turned bullish yet. RSI near 49.8 is neutral, while the rising MACD shows selling pressure is fading.
For now, resistance is around 4,056, 4,068, and 4,075. Support stands at 4,036, 4,029, and 4,017. A break above resistance could support recovery, while failure near these levels may keep gold choppy.
Gold Gets Support From Geopolitical Risk
Gold is trading in a mixed setup. US-Iran tensions and Strait of Hormuz risks keep safe-haven demand alive, but higher-for-longer Fed expectations and a stronger dollar are still limiting the upside.
Short-term pressure remains possible if Treasury yields keep rising. Markets are also pricing a higher chance of another Fed hike, which can weigh on gold because it offers no yield. A deeper pullback could bring the $4,000 area back into focus.
Still, the bigger picture remains supportive. Central banks continue to build gold reserves as geopolitical tensions, sanctions, and global fragmentation increase demand for non-dollar reserve assets.
Technically, XAUUSD is still below the 50-day SMA, so the trend has not fully turned bullish yet. RSI near 49.8 is neutral, while the rising MACD shows selling pressure is fading.
For now, resistance is around 4,056, 4,068, and 4,075. Support stands at 4,036, 4,029, and 4,017. A break above resistance could support recovery, while failure near these levels may keep gold choppy.
