Iran and the United States are mutually demanding reparations for losses incurred in the conflict with Iran. If, in the short term, the focus remains on astronomical monetary demands and no further escalation of hostilities occurs, investors’ risk appetite for gold is unlikely to diminish significantly. This explains why, despite a gap-up opening and steady upward trend in US crude oil prices yesterday, there was no increase in investors cashing out in the gold market to hedge against inflation. Furthermore, after digesting the latest US non-farm payroll data released last Friday, investors continue to believe that the Federal Reserve lacks strong grounds for interest rate hikes, and this interest rate factor is also driving gold prices upward.

Gold prices may fluctuate between $4,336 and $4,447 in the short term. Pay close attention to potential entry opportunities at the lower end of this range, as there is short-term upside potential. $4,316 can serve as an important price support level; appropriate risk management is essential.

Risk Warning: This article is for market analysis purposes only. 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