Gold Wavers Around $4,100 as Bearish Trend Persists
Gold (XAU/USD) trades near $4,100 in a narrow range, set for a 1.6% weekly decline as renewed Iran hostilities lift oil prices and pressure central banks to hike rates.
XAUUSD
Gold (XAU/USD) is hovering near the $4,100 level, with price action confined to Thursday's range and on track for a 1.6% weekly loss.
The precious metal struggled this week as the resumption of hostilities in Iran boosted oil prices, putting pressure on central banks to raise interest rates.
Technical indicators show the bearish trend remains intact, with further downside possible if key support levels break.
Source: FXStreet Forex News