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Price Prediction Points to $3166 as Israel-Iran Ceasefire Hits Gold
Gold (XAU/USD) prices plunged 2.81% to $3,274.18 during June 22-28, marking their sharpest weekly drop in months as a surprise Israel-Iran ceasefire announcement erased geopolitical risk premiums. The metal broke below key support levels while equities and oil markets reflected a decisive shift back into risk assets. The June 24 ceasefire, brokered by the U.S. and Qatar after weeks of escalating attacks, triggered a 1.35-2% intraday drop in gold to $3,320-$3,330. Selling extended for six consecutive sessions, illustrating how deeply geopolitical risk had been priced in. Equity indices surged, with the S&P 500 up ... (full story)
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- Jun 29, 2025 4:00pm Posted byTechnical Analysis353
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