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Commodities

Gold Surges to Three-Month Highs Amid Iran Sanctions

Guavy AI Editorial Team
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Gold
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Gold prices surged to three-month highs as US Treasury Secretary Scott Bessent announced unprecedented economic measures against Iran, including sanctions on digital assets and gold.

The XAU/USD pair reached $4,681, up 0.62%, with investors awaiting the speech of new Fed Chair Kevin Warsh at the Jackson Hole symposium on Friday.

Bullion has turned bullish after clearing the 200-day Simple Moving Average (SMA) at $4,516 last Friday, opening the door to further upside, but it remains neutral to upward-biased until XAU clears the May 7 high at $4,764.

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