Gold surged more than 1% to exceed $3,440, approaching record levels amid a sharp rise in safe-haven demand. The gains came after Israel's strike on Iran’s nuclear facilities, fueling concerns over a wider regional conflict. Uncertainty surrounding potential US tariffs added to market jitters. Additionally, softer US inflation data increased expectations for Federal Reserve rate cuts, enhancing gold's appeal as a non-yielding asset.
Resistance is seen at $3,430, while support holds at $3,350.
Resistance is seen at $3,430, while support holds at $3,350.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.