Gold Hits Weekly Low Near $4,175 as Sellers Dominate Despite US-Iran Peace Deal
Gold prices fell to fresh weekly lows around $4,175 in Asian trading on Friday, extending the bearish run for a third consecutive week. The US-Iran peace deal has failed to support the metal, leaving it in a lose-lose situation.
Gold (XAU/USD) continued its downward trajectory in Friday's Asian session, refreshing weekly lows near $4,175. Sellers maintained control, pushing the precious metal toward a third straight weekly decline.
The bearish momentum persists despite the recent US-Iran peace deal, which typically would be a supportive geopolitical factor. Instead, gold remains stuck in a lose-lose trade as sellers refuse to relent.
Market participants are now watching for further selling pressure, with the weekly close likely setting the tone for next week's action.
Source: FXStreet Forex News