Gold (XAU/USD) opened the week with a bullish gap but struggled to hold its ground. Despite initial optimism over a temporary pause in tensions between the US and Iran, gold prices are pressured by a strengthening US dollar and now sit below $4,100, reflecting market uncertainty.
Factors Influencing Gold
The US dollar's rebound impacts gold prices due to their inverse relationship, as gold is priced in dollars. Additionally, attention is on the upcoming Federal Reserve decision, which could sway market expectations and thus the gold price.
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