1. Market Overview
Gold prices slipped to around $4,523 during early Monday's Asian session.
Iran stated that no nuclear commitments have been made as negotiations with the United States continue. Meanwhile, geopolitical tensions in the Middle East intensified after Israel launched military operations in Lebanon.
In addition, Federal Reserve policymakers reiterated on Friday that further interest rate hikes may still be necessary if inflationary pressures persist. Higher interest rates tend to weigh on non-yielding assets such as gold.
2. Technical Analysis
a. Market Structure
From a structural perspective, the breakout above the 4,460–4,465 resistance zone signals a violation of the previous bearish market structure. However, the inability to clear the 4,575–4,580 resistance area suggests that bullish momentum has yet to fully regain control.
A decisive break above 4,575–4,580 would strengthen the case for a renewed bullish trend. On the other hand, a breakdown below 4,460–4,465 would indicate that the recent breakout was merely a liquidity grab or false break, potentially opening the door for a continuation of the broader downtrend.
b. Key Price Levels
Resistance Zones (Sell Scalping Consideration):
* 4,575 – 4,580
* 4,665 – 4,670
Support Zones (Buy Scalping Consideration):
* 4,510 – 4,515
* 4,460 – 4,465
3. Outlook
Recent escalations in the Middle East conflict and the unresolved issues surrounding the US-Iran ceasefire negotiations continue to influence market sentiment. Rising geopolitical risks could support oil prices, potentially leading to higher inflation expectations. This may encourage the Federal Reserve to maintain a hawkish stance, creating additional pressure on gold prices.
Traders should closely monitor these developments, as they could provide important clues regarding the next directional move and may ultimately serve as the catalyst for a significant breakout in gold prices.
Wish you a successful trading day
Gold prices slipped to around $4,523 during early Monday's Asian session.
Iran stated that no nuclear commitments have been made as negotiations with the United States continue. Meanwhile, geopolitical tensions in the Middle East intensified after Israel launched military operations in Lebanon.
In addition, Federal Reserve policymakers reiterated on Friday that further interest rate hikes may still be necessary if inflationary pressures persist. Higher interest rates tend to weigh on non-yielding assets such as gold.
2. Technical Analysis
a. Market Structure
From a structural perspective, the breakout above the 4,460–4,465 resistance zone signals a violation of the previous bearish market structure. However, the inability to clear the 4,575–4,580 resistance area suggests that bullish momentum has yet to fully regain control.
A decisive break above 4,575–4,580 would strengthen the case for a renewed bullish trend. On the other hand, a breakdown below 4,460–4,465 would indicate that the recent breakout was merely a liquidity grab or false break, potentially opening the door for a continuation of the broader downtrend.
b. Key Price Levels
Resistance Zones (Sell Scalping Consideration):
* 4,575 – 4,580
* 4,665 – 4,670
Support Zones (Buy Scalping Consideration):
* 4,510 – 4,515
* 4,460 – 4,465
3. Outlook
Recent escalations in the Middle East conflict and the unresolved issues surrounding the US-Iran ceasefire negotiations continue to influence market sentiment. Rising geopolitical risks could support oil prices, potentially leading to higher inflation expectations. This may encourage the Federal Reserve to maintain a hawkish stance, creating additional pressure on gold prices.
Traders should closely monitor these developments, as they could provide important clues regarding the next directional move and may ultimately serve as the catalyst for a significant breakout in gold prices.
Wish you a successful trading day
Trade active
📊 XAU/USD UpdateGold is trading sideways around 4500 as the market awaits the U.S. ISM Manufacturing PMI data, set to be released in one hour.
Trade closed: target reached
complete tha original plan
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.