Gold Fails to Breach $4,100 Barrier Amid Firm USD
Spot gold edged higher for a second day but struggled to clear the $4,100 resistance as a stronger U.S. dollar, buoyed by Federal Reserve rate‑hike expectations and Middle East tensions, capped gains.
Gold (XAU/USD) attracted buyers for the second straight day but remained within the previous session’s range and below the psychological $4,100 level during Asian trading.
The key resistance near $4,100 held firm as the U.S. dollar stayed supported. A combination of escalating Middle East tensions and market bets that the Fed will keep rates elevated propped up the greenback, limiting upside for the non‑yielding metal.
Failure to break above the hurdle keeps the short‑term bias tilted to the downside, with traders now looking to upcoming U.S. economic data for direction.
Source: FXStreet Forex News