Precious metals market

Gold was bouncing off its earlier lows at the time of writing, though remained lower on the weak after being unable to drive much higher despite the tensions between Israel and Iran for the past 7 days.

EURUSD, Gold Outlook: Geopolitical tensions are rising, yet the dollar, euro, and gold remain range-bound, holding steady as markets await clarity this summer. What are the key levels to watch?

Gold bulls have made a statement with the rally from last February’s low below the $2k level. The question now is whether a crowded trade can continue to run the breakout at historically overbought levels.

In the last two trading sessions, gold has declined by just over 2% after attempting to consolidate around its historical high levels, as demand for safe-haven assets has weakened in the short term.

Gold's rally may be running out of steam, with bearish reversal patterns and historically weak June seasonality pointing to a potential pullback.

Gold may have cooled from its recent highs but make no mistake—the precious metal is far from out of the spotlight.

A breakout of the monthly range takes gold into uptrend resistance and the first major test for the bulls. Battlelines drawn on the XAU/USD short-term technical charts.

There is little doubt about the gold outlook which remains positive amid raised geopolitical risks in the Middle East, ongoing trade tensions that don’t seem to go away and multiple other factors. The response of Iran is now going to be key.

The price of gold bounces back ahead of the 50-Day SMA ($3274) to initiate a series of higher highs and lows.

Gold is attempting a second weekly advance but remains vulnerable while below technical resistance. Battle lines drawn on the XAU/USD weekly technical chart.

Tomorrow’s CPI release is big as it’s expected to be a change of pace, following three consecutive months of drawdown in YoY headline CPI figures.