XAU/USD trades flat for the week, pressured by rising oil prices and expectations of prolonged higher interest rates.
Gold (XAU/USD) remains near $4,100, nursing a 1.6% weekly loss as geopolitical tensions in Iran lift oil prices and fuel speculation of central bank rate hikes. The metal has struggled to break out of Thursday’s trading range amid cautious market sentiment.
The US Dollar Index nears 101.00, limiting gold’s upside, while technical indicators show weakening bearish momentum but no clear trend reversal. The Relative Strength Index approaches neutral, and the MACD turns positive, suggesting improving short-term sentiment.
Diplomatic efforts to revive US-Iran nuclear talks add uncertainty, with markets awaiting further developments. The broader bearish trend persists despite signs of stabilization.