It was a harsh weekend, as Iran’s retaliatory missile and drone attack against Israel sparked concerns of global conflict. But traders seem to have concluded this attack will not lead to further escalation for the time being, averting another record rally in the safe-haven gold. Bullion started the day steady, remaining close to the 2,350 level, which aligns with the 20-period EMA on the four-hour chart, after reaching a record high of 2,431 on Friday. Technically, overbought conditions are still present. Thus, it is possible that a downside correction will occur in the near future. However, in order for selling ... (full story)