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Market & Economic Intelligence Platform Insight on Macro, Commodities, Equities & Policy

1 June 2026 08:32  |

XAU/USD Consolidates, Ahead of US Jobs Data

Gold stabilized above US$4,500 per troy ounce on Monday (June 1) after a volatile week, as markets weighed geopolitical risks related to efforts to extend the US-Iran ceasefire and plans to reopen the Strait of Hormuz. Negotiations are said to remain unclear, while President Donald Trump reiterated demands for an end to Iran's nuclear program and the importance of keeping the Strait of Hormuz open to global energy flows.

Meanwhile, gold remains restrained by inflation concerns following a surge in energy prices, which could push interest rate expectations higher and limit gold's upside. The market now awaits the release of the US monthly jobs report later this week for clues on the direction of the Fed's policy, the dollar, and XAU/USD. (asd)

Gold Price at the Time of This Analysis' Release: $4,530

- Buy if the price moves to $4,545

- Sell if the price moves to $4,535

Resistance 2: $4,560

Resistance 1: $4,550

Support 1: $4,530

Support 2: $4,520

Note: This article is analytical in nature and not a definitive reference. Please consider the impact of fundamental and technical developments on trading before making any investment decisions.

 

Source: Newsmaker.id

 

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