Financial News Hub
Critical updates. Market reactions. No noise - just what investors need to know.
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Gold Falling 1.5% To $4,579.19/, Its Lowest Level Since May 6
Spot gold extended its decline for a fourth consecutive session, falling 1.5% to $4,579.19 per ounce as of 06:31 GMT, its lowest level since May 6. For the week, gold was down nearly 3%.
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Gold Prices Pare Gains as Uncertainty Surrounds U.S.–Iran Agreement
Gold prices unexpectedly reversed lower during Thursday’s session, despite a strong rally earlier in the day, as expectations for a U.S.–Iran peace agreement were partly weakened by mixed signals from Tehran.
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Spot Gold fell 0.5% to $4,588.71/oz While Markets In China, Japan, And the United Kingdom Were Closed For Public Holidays
From a broader trend perspective, there has been little change compared with the end of last week. Gold is still moving within the upward wave structure from white A to white B, with an internal a-b-c formation.
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Wave B Target: Gold May Return to Around $4,500/oz
Gold prices fell sharply during Tuesday’s trading session, just ahead of tonight’s interest rate announcement. This movement reflects the market’s cautious sentiment as investors prepare for key economic events.
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GOLD REBOUNDS AFTER THE U.S. EXTENDS THE CEASEFIRE WITH IRAN
Spot gold rose 0.9% to $4,763.66 per ounce at 06:45 GMT, continuing to trade within the $4,700-$4,900 per ounce range that has held for the past two weeks.
GOLD PRICES EDGE LOWER AS U.S.-IRAN TENSIONS ESCALATE AGAIN
Gold prices slipped slightly on Monday after news that the Strait of Hormuz had been closed again sent oil prices sharply higher, reviving inflation concerns.
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GOLD SURGES AS THE U.S. DOLLAR WEAKENS
Gold prices climbed 2% on Tuesday as the U.S. dollar weakened, while expectations of renewed talks between the United States and Iran also helped support prices by easing inflation concerns.