Gold holds near $4,110 as markets await House vote on US funding bill

💡 DMK Insight

Gold’s recent flat performance at around $4,110 is a crucial moment for traders. After hitting a three-week high of $4,148, the market’s current stance reflects uncertainty as the Senate’s stopgap funding bill heads to the House. This political maneuvering could influence gold’s safe-haven appeal, especially if the government shutdown risks escalate. Traders should keep an eye on how this bill progresses; a successful passage could stabilize the dollar, potentially putting downward pressure on gold prices. Conversely, any hiccup in the funding process might reignite demand for gold as a hedge against economic instability. Watch for key support around $4,100 and resistance at $4,150. If gold breaks below $4,100, it could signal a bearish trend, while a push above $4,150 might attract more bullish sentiment. Given the current political climate, volatility is likely, so stay alert for news updates that could sway market sentiment quickly.