Gold remains bid as lack of Fed clarity and geopolitical frictions persist

💡 DMK Insight

Gold’s recent rise to $4,353 signals a pivotal moment for traders: profit-taking is in play. With XAU/USD currently at $4,302, the modest advance of 0.51% reflects a classic weekend strategy where traders lock in gains. The comments from Fed officials are crucial here; any hints at future rate hikes could pressure gold prices. If the Fed maintains a hawkish stance, we might see a pullback, especially if XAU/USD breaks below the $4,250 support level. On the flip side, if gold holds above this level, it could attract more buyers looking for a safe haven amid economic uncertainty. Keep an eye on the $4,350 resistance; a breakout could signal further upside potential. Watch for volatility as we approach the weekend, and consider adjusting positions accordingly based on Fed commentary and market sentiment.