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On Friday, gold showed moderate growth. Despite the U.S. Dollar Index rising above the psychological 100.00 level, mixed signals from the U.S. economy have slowed its advance.
US President Donald Trump announced a postponement of military strikes on Iranian energy facilities, extending the deadline to April 6, 2026. According to him, the decision was made "at the request of the Iranian government" amid ongoing negotiations. However, this step has only partially reduced geopolitical tensions: Iran continues to maintain a firm stance, and uncertainty regarding further developments in the conflict remains. Meanwhile, The Wall Street Journal reports that the Pentagon is considering deploying an additional 10,000 troops to the Middle East, increasing the risk of a new wave of escalation.
Rising US Treasury yields are also putting pressure on gold. The yield on 10-year bonds climbed to 4.45%, reaching its highest level since July 2025, increasing the opportunity cost of holding non-yielding assets. At the same time, the dollar remains resilient due to its status as the primary reserve currency. Since oil and gold are denominated in dollars, rising oil prices often support the U.S. currency, limiting gold's upward potential.
From a technical perspective, oscillators remain deep in negative territory, supporting bearish sentiment. Bulls, at a minimum, need to break above the 100-day SMA to improve their chances.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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