Market Analyst: Gold Under Pressure at US$4,028, US-Iran Conflict Rekindles Inflation Risk
Gold prices were under pressure again on Wednesday (July 15th), with XAU/USD now hovering around US$4,028 per troy ounce. This decline occurred after the market refocused on the escalation of the conflict between the United States and Iran, which has the potential to disrupt key energy routes in the Middle East.
Although the previous lower-than-expected US CPI data initially boosted gold, this sentiment has been dampened by concerns that rising oil and gas prices could reignite inflationary pressures. (arl)
Gold price at the time of this analysis: $4,030
- Buy if the price moves to $4,032
- Sell if the price moves to $4,023
Resistance 2: $4,047
Resistance 1: $4,038
Support 1: $4,020
Support 2: $4,011
Note: This article is analytical and not a definitive reference. Please consider the impact of fundamental and technical developments on trading before making any investment decisions.
Source: Newsmaker.id