GOLD JUST HAD ITS WORST WEEK IN RECENT MEMORY
Gold fell 2.6% for the week to $4,217 per ounce as investors grew more optimistic about a US-Iran peace deal .
What's driving gold lower:
1. US-IRAN PEACE HOPES – As geopolitical tensions ease, demand for safe-haven assets declines.
2. STRONG DOLLAR – The dollar index held at 99.7, making gold more expensive for international buyers .
3. RISING TREASURY YIELDS – The 10-year Treasury yield remains elevated at 4.49%, increasing the opportunity cost of holding non-yielding gold .
4. STRONG US JOBS DATA – Strong employment data has pushed back expectations for rate cuts .
The bottom line: Short-term, gold is under pressure. But medium-term trends of diversification away from US assets could still support gold prices.
Technical levels:
· Support: $4,150
· Resistance: $4,400
👇 Do you own gold? Are you buying at these levels or selling? Type "BUYING" or "SELLING" in the comments.
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