Gold Targets $3,950 as Iran War Escalates
Gold oscillates near $4,000 in Asian trading Monday as the US-Iran conflict intensifies, with analysts eyeing a potential pullback to $3,950 amid a light US economic calendar.
Gold (XAU/USD) traded in a narrow range around $4,000 during Asian hours on Monday, swinging between gains and losses as the US-Iran conflict continues to escalate. The precious metal remains sensitive to geopolitical headlines while the US economic calendar is relatively empty this week, leaving sentiment driven by the conflict's trajectory.
Analysts keep the $3,950 level in view as a near-term target, suggesting that the recent rally may pause as heightened tensions are already priced in. A break below this level could trigger further downside, while any de-escalation news might push gold higher. Traders are watching for diplomatic developments or fresh sanctions that could shift the risk landscape.
Source: FXStreet Forex News