Gold Price Rally Continues Amid Fed and Iran Risks

Gold and Silver prices are experiencing a rally due to risks in the global market. The Federal Reserve's actions and tensions between Iran have contributed to this surge.

The Gold price is currently trading near $4,647 in a rising channel on the 4-hour chart. This indicates that there are strong buyers pushing up the price, but it's nearing its upper limit, making it difficult for prices to move upward easily.

The Relative Strength Index (RSI) for Gold has reached almost 73, which is an overbought zone, suggesting a potential consolidation or correction in the near future. However, analysts believe that Gold remains in a bullish zone above $4,567 and may break through resistance at $4,661 to reach the range of $4,729 to $4,794.