Gold Holds Firm in Strong Zone as Geopolitical Tensions and Dollar Direction Drive Movement
Gold prices (XAU/USD) traded steadily with a modest upward bias today, supported by lingering geopolitical uncertainty weighing on global markets. Ongoing tensions between the United States and Iran have yet to fully subside, keeping demand for safe-haven assets intact. Market participants continue to monitor diplomatic developments in the Gulf region, particularly the situation surrounding the Strait of Hormuz, a critical artery for global energy distribution.
At the same time, gold’s movement remains closely tied to fluctuations in the U.S. dollar and Treasury yields. A stronger dollar tends to cap gains in the precious metal, while softer yields typically provide room for gold to extend its rally. Expectations surrounding the Federal Reserve’s monetary policy outlook remain a key factor, especially if upcoming inflation or labor market data signal renewed price pressures. In a high interest-rate environment, non-yielding assets such as gold become less attractive compared to interest-bearing instruments.
From a technical perspective, gold’s price structure continues to show a bullish bias as long as it holds above key support levels. For today’s session, immediate support is seen in the 4,580–4,610 range. Should selling pressure intensify and break below this zone, the next strong support lies near 4,550. On the upside, immediate resistance is located around 4,640–4,660. A sustained breakout above this range could pave the way for further gains toward the psychological 4,700 level.
With geopolitical risks still present and uncertainty surrounding monetary policy direction, gold is expected to remain volatile. Investors are advised to closely monitor U.S. economic data releases and geopolitical headlines, as sudden developments could quickly shift market sentiment during intraday trading.
Source : Newsmaker.id
