Dollar Weakness Fuels Gold Rally

The US Treasury's recent decision has sent shockwaves through global markets, with gold prices soaring as investors seek safe-haven assets.

The move has put pressure on the US dollar, which has seen a strong pullback against a broad basket of currencies.

This has provided additional support to gold markets, with the precious metal currently trying to settle above the resistance level at $4480-$4500.

If gold manages to break through this barrier, it will head towards the next resistance level in the $4630-$4650 range, according to market analysts.

The Relative Strength Index (RSI) remains in the moderate territory, indicating that there is plenty of room for gold prices to gain momentum in the near term.