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Gold Price Below $4,500 per Ounce: A Buying Opportunity in the Safe-Haven Market
Uncertainty in the Middle East persists, with new U.S. airstrikes reducing the likelihood of a short-term agreement. However, the decline in the price of the precious metal does not undermine its strategic defensive role: during periods of economic and political stress, it is normal for investors to turn to safe-haven assets in order to preserve and accumulate liquidity.
[Source: Ansa]
US–Iran deal still missing: gold loses momentum and slips below $4,530 an ounce.
New US strikes stabilize oil prices and dampen demand for the ultimate safe-haven asset, which pauses its recent corrective phase and falls back below the $4,530 per ounce level, awaiting room for a potential rebound.
Gold rises on peace expectations: dollar and oil fall
Hopes of a possible agreement between Iran and the United States are pushing gold prices higher again, with the metal reaching a session high of $4,597 per ounce. The dollar failed to recover from last week’s trading lows, supporting the safe-haven asset during the European session. Oil is also declining, falling to its lowest level in the past two weeks.
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