Gold Faces Bearish Pressure as Middle East Tensions Counter USD Weakness
Gold prices are struggling to gain despite a weaker US dollar, as escalating Middle East tensions create bearish pressure on the precious metal.
XAUUSD
Gold (XAU/USD) is unable to capitalize on broad US dollar weakness, with the weekly outlook turning increasingly bearish.
Rising geopolitical risks in the Middle East are offsetting the typical safe-haven bid from a weaker greenback, capping any upside for the yellow metal.
Traders are watching for further escalation in the region as a key driver for gold's near-term direction.
Source: FXStreet Forex News