Gold outlook: XAU/USD off earlier highs as investors weigh impact of Israel-Iran conflict

From forex.com

Following the Israeli attacks on Iran overnight, we obviously saw a big spike in oil prices, with gold also rallying on haven flows. The question now is whether the precious metal will be able to hold onto its gains and rise even more, or will pressure from a rebounding US dollar causes it to turn lower. We have already seen a rebound in the USD/JPY, while silver has turned lower. But at the time of writing in mid-morning London session, the yellow precious metal was still holding 1% in the positive territory after earlier rising as high as 1.7% to peak, for now, at $3,344. But there is little doubt about the gold ... (full story)