Gold price resumes uptrend on Middle East escalation after Iran attacked Israel over the weekend. US Dollar stays uninspired by geopolitical tensions, as risk sentiment remains in a sweeter spot. Gold price likely to stay supported ahead of top-tier US Retail Sales data. Gold priceis back in the green above $2,350 early Monday, having witnessed the long-due correction from record highs of $$2,432 on Friday.
30% on the day, reflecting the market optimism, which is capping the further upside in Gold price. Looking ahead, if the Middle East conflict intensify, Gold price is likely to see an extension of the rebound toward $2,400. But a resurgent demand for the US Dollar on increased safe-haven flows and hawkish US Federal Reserve expectations could act as a headwind to the Gold price upswing.
XAUUSD Commodities Riskappetite Middleeast
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