US President Trump, once again displaying his disruptive nature, claimed on social media that the Strait of Hormuz is US territory. This action will not help the US-Iran ceasefire and peace talks; on the contrary, it will only increase investor concerns about the continued stalemate between the two countries, leading to persistently high oil prices and increasing negative sentiment regarding inflation driven by soaring energy prices, potentially prompting the Federal Reserve to raise interest rates to curb this trend. This interest rate movement expectation should put pressure on gold prices, which may need to test the support level of $4,300 in the short term before more opportunities to buy on dips arise.

Gold prices may fluctuate between $4,300 and $4,377 in the short term. Pay close attention to the lower end of this range for potential buying opportunities. There is short-term upside potential, and $4,280 can be considered an important defensive level. Be sure to manage your risk accordingly.

Risk Warning: This article is for market analysis purposes only. The price ranges and levels mentioned are for market observation and reference only and do not constitute any investment advice. Precious metal prices are highly volatile; please make independent and prudent decisions and manage your own risk.

Gold Price 1-Hour Chart:

Ferris Kwok

Chief Analyst
Success Finance Group

Email: ferris.kwok@successfn.com