Gold retreats toward $4,000 as $4,100 resistance proves stubborn
Gold is lower early Thursday, failing to break above $4,100 for the fourth time. The metal eyes a retest of the $4,000 level despite fresh US-Iran tensions.
XAUUSD
XAU/USD turned negative on Thursday, trading back toward the psychologically important $4,000 mark after bulls failed to conquer the $4,100 resistance for the fourth time this period.
Haven demand from US-Iran tensions failed to lift the yellow metal above that ceiling, leaving the near-term outlook tilted to the downside.
Traders now watch for a potential break below $4,000 as the US dollar stays firm.
Source: FXStreet Forex News