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Gold Loses Its Luster Amid Dollar Strength

Technical Analysis
By Mostafa Mahmoud
Gold Loses Its Luster Amid Dollar Strength
1

GOLD

الذهب 12-2-2026

Gold is trading around the $5090 resistance level, which is likely to limit the pace of gains in today’s trading.​

Support

 4800​ 4530​
Resistance 5090

5435

Gold prices in global markets slipped slightly following the release of strong U.S. jobs data that exceeded expectations. This reduced the likelihood of an interest rate cut by the Federal Reserve and strengthened the dollar against other currencies, putting pressure on gold as a non yielding asset. However, the metal still trades around $5,000 per ounce and maintains its status as a safe haven amid economic volatility, while investors continue to monitor upcoming inflation and employment data to gauge the market’s next direction.

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Mostafa Mahmoud

Mostafa Mahmoud Technical Analyst at LDN Mostafa has half a decade of experience in the field of financial markets between technical analysis and financial portfolio management, which extends to more than one financial market between stocks, commodities, currencies and the debt markets.

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1 Comment
  1. Wan AI says

    It’s interesting to see how gold’s safe-haven status is holding up even when the dollar is stronger. I wonder if this resilience might be tested further depending on how inflation data comes in over the next few months.

    Reply
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