Gold falls as Iran war, robust US jobs data dim Fed rate-cut hopes | Metals Mine

  • Gold falls as Iran war, robust US jobs data dim Fed rate-cut hopes

    From brecorder.com

    Gold prices fell on Monday, pressured by a stronger dollar as elevated oil prices on the back of a protracted Iran war and stronger-than-expected U.S. jobs data dampened hopes for interest rate cuts by the Federal Reserve. Spot ​gold slipped 0.9% to $4,631.69 per ounce by 0306 GMT, while U.S. ​gold futures for April delivery lost 0.5% to $4,657.50 in thin liquidity ⁠trade, with many markets in Asia and Europe closed for a holiday. “The latest ​robust NFP print has reinforced hawkish central bank nerves, while persistent oil-driven inflation ​fears continue to crowd out gold’s traditional safe-haven ... (full story)

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Riziq-Cap
Apr 6, 2026 1:51am
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Riziq-Cap
Apr 6, 2026 1:50am
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Riziq-Cap
Apr 6, 2026 1:52am
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Look at the smiles! Everyone is proud

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ZforexCM
Apr 6, 2026 2:17am
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Gold dropped toward $4,600 as a stronger dollar and rising yields continued to weigh on the metal. Strong U.S. jobs data reinforced expectations that the Fed will keep rates elevated, while surging oil prices driven by the Iran conflict added to inflation concerns.

Although geopolitical risks typically support gold, the current environment is dominated by the “higher for longer” rate outlook. Elevated interest rates and a stronger dollar are offsetting safe-haven demand, keeping pressure on prices.

First resistance is seen at $4720, with initial support near $4580.

R1: 4720S1: 4580
R2: 4860S2: 4500
R3: 4970S3: 4420
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Trader#10C0
Apr 6, 2026 7:18am
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This old man Trump is manipulating the market please stop this guy from playing with the market lolzzzz zZzzzzz
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