Gold Price Consolidates Near $4,050 as 21-Day SMA Caps Upside Ahead of US-Iran Talks
Gold prices held around $4,050 in Asian trading on Monday, as bearish technical signals outweighed bullish fundamentals. The metal remains capped by its 21-day simple moving average ahead of US-Iran negotiations.
XAUUSD
Gold (XAU/USD) was consolidating Monday’s decline near the $4,050 level during Asian hours, maintaining an offered bias. The short-term technical picture remains bearish, with the 21-day SMA acting as resistance. While fundamentals such as geopolitical tensions may lend support, the moving average’s hold has kept buying interest limited. Investors are now eyeing the upcoming US-Iran talks for potential catalysts.
Source: FXStreet Forex News