The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
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Gold (XAU/USD) remains under pressure, although it is showing some resilience below the $4700 level. The US dollar has been strengthening for the third consecutive day, acting as a key factor weighing on the asset. Ongoing tensions between the United States and Iran—driven by the US naval blockade of Iranian ports and conflict in the Strait of Hormuz—remain a significant market driver. Additional pressure comes from reduced expectations of further interest rate cuts by the Federal Reserve, which supports the dollar and weighs on precious metal prices.
Trump confirmed that the naval blockade of Iranian ports will continue, while Iran insists on its removal as a precondition for resuming dialogue. In addition, the Islamic Revolutionary Guard Corps (IRGC) reported the seizure of two container ships—the first such incidents since the beginning of the conflict with the United States and Israel in February. This increases the risk of further escalation and maintains a high level of geopolitical uncertainty, supporting the US dollar as a safe-haven asset.
Bearish sentiment for XAU/USD is intensifying; however, market participants are advised to wait for a firm break below the $4700 level before opening new short positions. Oscillators on the daily chart are negative. Nevertheless, the 200-day SMA has not yet turned downward, indicating that the bearish sentiment in the gold market may be temporary.
*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.
Uz InstaSpot-ove analitičke preglede uvek ćete biti u toku sa tržišnim trendovima! Klijentima InstaSpot-a su dostupni mnogobrojni besplatni servisi za uspešno trgovanje.
