Gold Technical Analysis ...Middle East

Gold has been under pressure recently as the geopolitical risk premium started to fade with the markets now looking past the Israel-Hamas conflict. The Fed speakers recently have also been pretty hawkish which might have contributed to the correction. The US data though, has been showing signs of softening, especially on the labour market side with the NFP report missing expectations across the board and Continuing Claims rising steadily. These should be bullish signs for Gold going forward because it’s likely to bring rate cuts forward.Gold Technical Analysis – Daily TimeframeOn the daily chart, we can see that Gold couldn’t sustain the breakout above the key 1985 resistance and erased a th

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