GOLD

Gold trades below resistance at $4500 and is likely to move in a sideways range between the mentioned resistance and support at $4150 during today’s trading.
|
Support |
4400 | 4200 |
| Resistance | 4600 |
4850 |
Gold recorded positive movement during today session supported by a relative decline in the dollar and lower oil prices along with ongoing uncertainty tied to geopolitical developments in the Middle East This rise reflects renewed demand for safe haven assets but remains measured as markets stay cautious awaiting any developments on de escalation or further escalation
At the same time price action remains driven by a balance between supportive factors such as geopolitical risks and pressure from potential diplomatic progress keeping upside momentum limited and leaving the market exposed to rapid volatility in the near term
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