Gold (XAU/USD) is trading within a tight range on Thursday, consolidating between $3,360 and $3,400. These levels have repeatedly served as key short-term support and resistance over recent sessions. With the United States (US) observing the Juneteenth holiday, lower trading volumes have resulted in subdued price movements, although underlying risks remain pronounced. Geopolitical tensions persist as significant drivers of Gold prices. Russia has issued a stark warning against potential US military involvement in Iran, describing it as an "extremely dangerous step" with "unpredictable...
Gold price registers modest gains on Thursday as geopolitical tensions rose due to increasing rumors that the United States (US) might become involved in the Israel–Iran conflict. Nevertheless, a slightly hawkish Federal Reserve (Fed) caps the golden metal's advance. At the time of writing, XAU/USD trades at $3,373, up 0.13%. Geopolitics continued to drive Gold's price action due to reports from several US news websites like The Wall Street Journal and CBS News revealing that plans of a US attack on Iran nuclear facilities had been approved by US President Donald Trump, who is weighing his...
WTI crude oil futures pared its early session rally to trade below $75 per barrel on Thursday, only marginally below a five-month high, after President Trump's announcement that he will decide on US involvement in the Israel–Iran conflict "within two weeks" defused the immediacy of a Middle East supply shock. Earlier, renewed missile exchanges between Israel and Iran after Tel Aviv claimed to have struck nuclear targets in Iran had stoked fears of an escalation severe enough to threaten tanker traffic through the Strait of Hormuz, driving prices briefly above $77. Trump's initial "may...