Market participants are closely watching two major geopolitical events this week. First, there’s the question of whether US President Trump will meet with Israeli Prime Minister Netanyahu later this week as planned, and how he will make Netanyahu understand who is in charge. Second, NATO will hold a two-day summit on Tuesday and Wednesday, and whether this summit will further strain relations between NATO and the US is also a key development the market is watching closely. Amidst this uncertainty, investors’ willingness to buy gold at higher levels may not be strong, and gold prices may encounter significant resistance at the $4,249 level in the short term.

A short position can be established around $4,249, with a short-term target of $4,141 for profit-taking and a stop-loss at $4,269.

Gold Price 1-Hour Chart:

Ferris Kwok

Chief Analyst
Success Finance Group

Email: ferris.kwok@successfn.com