Gold steady as dip‑buying offsets firm dollar, US inflation woes | Metals Mine

  • Gold steady as dip‑buying offsets firm dollar, US inflation woes

    From brecorder.com

    Gold prices held steady on Thursday, paring an earlier drop of nearly 1%, while a firmer dollar and fading hopes for near-term interest rate cuts due to higher oil prices continued to weigh. Spot gold was down 0.1% at $5,172.86 per ​ounce as of 0221 GMT. U.S. gold futures for April delivery was ​unchanged at $5,178. “Given a lack of a short-term exit for the Middle East ⁠conflict right now, plus a de facto closure of the Strait of Hormuz, ​I think any gold dips will likely be bid (buying opportunity), since the market lacks ​a clear reason to sell the metal,” said Nicholas Frappell, global head of institutional ... (full story)

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ZforexCM
Mar 12, 2026 2:01am
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Gold Dips Amid Inflation Fears

Gold prices fell below $5,150 per ounce on Thursday, marking a second day of losses. Rising crude prices from the Iran conflict have intensified inflation concerns, leading markets to believe the IEA's record 400-million-barrel reserve release may be insufficient. These fears, coupled with a stronger US dollar and climbing Treasury yields, have pressured the metal.

Investors are now pricing in only one Federal Reserve rate cut for 2026. While US core inflation appeared stable in early reports, the EU recently warned that inflation could surge past 3%.

XAUUSD Support & Resistance Levels
R1: 5240 | S1: 5070
R2: 5330 | S2: 5000
R3: 5420 | S3: 4920
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