Commodities
Gold Stabilizes Amid Oil Price Surge and Geopolitical Tensions
The price of Gold (XAU) has stabilized at $4,347, showing a modest gain for the session. This comes as oil prices have increased due to recent attacks on Saudi Arabia's East-West oil pipeline, which has disrupted energy supplies and pushed up inflation expectations.
As a result, demand for gold as a safe-haven asset has risen. However, technical indicators are mixed, with both bullish and bearish signals present in the market.
The current price range for gold is between $4,268 and $4,425, with a 45% likelihood of an upward move. This suggests that traders should monitor price behavior around the $4,342 Kijun support level for signs of either sustained stabilization or renewed downside risk.