Gold dips as Mideast hostilities revive inflation concerns | Metals Mine

  • Gold dips as Mideast hostilities revive inflation concerns

    From brecorder.com

    Gold prices fell on Thursday after hitting a one-week low in the previous session, as U.S. President Donald Trump’s declaration that an interim agreement to end the ​war with Iran was “over” reignited concerns over higher inflation and interest rates. Spot gold fell 0.3% to $4,066.24 per ounce by 0105 GMT, after dropping to its lowest since July 1 on Wednesday. U.S. gold futures for August delivery were down 0.1% at $4,077. The U.S. military ​said on Wednesday that it was launching fresh strikes on Iran aimed at ​keeping the critical Strait of Hormuz open to traffic, hours after Trump ⁠said that the ... (full story)

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mosavit
14 hr ago
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sell sell sell ...
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Paramour
13 hr ago
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Agreed, with Trump's comments pushing rate hike fears back on the table, gold is definitely losing its shine for now.
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Trader#91C9
13 hr ago
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its only trap guys
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ZforexCM
12 hr ago
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Gold steadied near $4,100 as renewed fighting between the U.S. and Iran revived safe-haven demand, but the rebound remained limited. Higher oil prices have once again fueled inflation concerns, reinforcing expectations that the Fed could keep interest rates elevated for longer.

The latest escalation has reminded investors that geopolitical risks can quickly reverse market sentiment. Even so, the stronger dollar and higher Treasury yields continue to cap gold's upside, leaving the metal caught between safe-haven buying and the drag from a more hawkish Fed.

First resistance is seen at $4100, with initial support near $4000.

R1: 4100 | S1: 4000
R2: 4170 | S2: 3950
R3: 4250 | S3: 3900
Attached Image (click to enlarge)
Click to Enlarge Name: gold-steadies-near-dollar4100-6644.png Size: 42 KB
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Trader#3EC1
12 hr ago
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It's rising like this right now... based on what they say it dropped? It's currently at $4,115. It went up $50 in less than two hours after this news came out.
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