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Gold refreshes weekly top, eyes mid-$4,600 as USD weakens on US-Iran peace deal hopes
Gold (XAU/USD) gains some follow-through positive traction for the second straight day on Wednesday and recovers further from a more than one-month low, around the $4,500 mark, touched at the start of this week.Fxstreet
Wed, May 6
Gold edges higher above $4,550 on fragile US–Iran ceasefire
Gold price (XAU/USD) trades in positive territory near $4,575 during the early Asian session on Wednesday. The precious metal edges higher as markets weigh developments in the Iran war. Traders will keep an eye on the US ADP Employment Change report, which is due later on Wednesday.Fxstreet
Tue, May 5
Gold rebounds from one-month lows as ceasefire lifts buying interest
Gold (XAU/USD) advances nearly 1% on Tuesday as a fragile ceasefire between the US and Iran improves risk appetite, with Wall Street trading higher. At the time of writing, XAU/USD trades at $4,560 after bouncing off one-month lows of $4,500.Fxstreet
Tue, May 5
Gold: Oil link and Chinese demand in focus – Commerzbank
Commerzbank’s Barbara Lambrecht notes that since the Iran war began, Oil has been the main driver of Gold, via inflation and rate expectations. Gold briefly stabilized near USD 4,600 per ounce before slipping below USD 4,550 on stronger US data and higher Oil.Gold lacks upside momentum as Fed hike bets grow amid US-Iran tensions
Gold (XAU/USD) steadies on Tuesday but lacks upside momentum as higher-for-longer interest rate expectations rise following renewed escalation in the Middle East, which continues to fuel energy-driven inflation concerns.Fxstreet
Tue, May 5
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