Gold Prices Slip as Middle East Tensions Ease, Reducing Safe-Haven Demand
Gold prices dropped on Wednesday.
Easing Middle East Tensions Weaken Gold’s Safe-Haven Appeal
Reduced tensions between Iran and Saudi Arabia drove prices down.
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Key Market Data:
- Gold prices fell 1.2% to $1,727/oz
- US dollar index rose 0.3% to 103.70
- Middle East tensions eased
Market Outlook:
The current market sentiment is bearish for gold.
Technical Analysis: Gold Prices
- Support levels: $1,720, $1,700
- Resistance levels: $1,750, $1,770
What’s Next for Gold Prices?
Investors await Federal Reserve decisions.
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