Gold is hovering around **$4,723** today, bouncing back a little after a rough week. It dropped mostly because of the whole US-Iran situation and the Strait of Hormuz being blocked, which is pushing oil prices and inflation fears up — not great for gold.
Good news is there's some talk of a peace breakthrough, so people are feeling a bit more hopeful. But until something actually happens, gold is likely to stay stuck in this range.
Big thing to watch this week — the **Fed meeting on April 29**. No rate change expected, but what they say could move the market.
Still way up **42% from last year**, so the big picture trend is still bullish.
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XAUUSDT
Perp
4,692.64
-0.17%