Gold Held Ahead of Iran Negotiations
Gold (XAU/USD) held steady around US$4,765/ounce in Asian trading on Friday (April 10) after three sessions of gains, as markets weighed the chances of the two-week US-Iran ceasefire holding. Focus shifted to Saturday's talks in Islamabad involving a US delegation led by JD Vance and Iranian officials, while the Strait of Hormuz issue and Trump's threats regarding tanker fees maintained uncertainty.
Market participants also awaited Friday's release of the US March Consumer Price Index (CPI) as a key indicator of interest rate expectations. A slightly weaker dollar provided a cushion, but inflation risks from the conflict and oil price movements could potentially limit gold's upside, as the precious metal is non-yielding. (asd)
Gold Price at the Time of This Analysis' Release: $4,752
- Buy if the price moves to $4,775
- Sell if the price moves to $4,755
Resistance 2: $4,806
Resistance 1: $4,786
Support 1: $4,746
Support 2: $4,726
Disclaimer:
This article is analytical in nature and is not a definitive reference. Please consider the impact of fundamental and technical developments on your trading before making any investment decisions.
Source: Newsmaker.id