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XAU/USD. Analysis and Forecast
Gold dropped below the psychological $5100
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Gold dropped below the psychological $5100 level at the start of the European session but is now trying to hold above it after rebounding. Investors remain concerned about the impact of the prolonged Middle East conflict on oil prices and the global economy, allowing this safe-haven precious metal to attract intraday buying ahead of a potential break of the $5000 psychological level.On Monday, the U.S.–Israeli operationU.S.–Israeli operation against Iran entered its tenth day with no visible signs of de-escalation. Moreover,
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