Gold Edges Higher Despite Firm US Dollar as Iran Tensions Simmer
Gold price (XAU/USD) drifted higher on Friday even as the US dollar remained firm. The move came amid growing speculation that the US-Iran conflict may prolong, though this could ultimately weigh on the precious metal.
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Gold prices inched up on Friday, defying a steady US dollar. XAU/USD traded at $4,065, advancing on the day.
The dollar held its ground, yet the yellow metal found support. Market chatter increasingly expects the US-Iran standoff to drag on longer than initially thought.
While that speculation provided a short-term bid, some analysts warn a prolonged conflict could eventually hurt gold’s appeal if it triggers broader safe-haven flows into the dollar or forces liquidity squeezes.
Source: FXStreet Forex News