Gold climbs on US‑Iran ceasefire progress as Fed rate hike bets fade

💡 DMK Insight

Gold’s recent 1.50% surge is a direct response to geopolitical tensions easing, and here’s why that matters: The potential US-Iran deal could stabilize the region, which typically boosts gold as a safe haven. Traders should note that XAU/USD is currently at $4,563, a critical level that could signal further upside if it holds. If gold can maintain above this price, it might attract more buying interest, especially from institutional players looking for a hedge against uncertainty. On the flip side, if negotiations falter, we could see a quick reversal, so keeping an eye on news developments is crucial. Additionally, watch for any shifts in the US dollar, as a stronger dollar could dampen gold’s appeal. For now, the immediate focus should be on the $4,600 resistance level; a breakout could lead to a more sustained rally in the coming weeks.