Gold reached the 1/2 level yesterday but failed to break through. Tensions around Iran are escalating again.
Scenarios:
- We take out the high and move to close the margin zone.
- We go into a correction via balance first, then continue lower.
- Not considering this for now - price would need to break in and hold. Hard to believe the market will buy into a de-escalation narrative going into the weekend and push gold higher.
Around 6,500 tons of weapons and military equipment were delivered within 24 hours by ships and aircraft as part of a major U.S. operation to replenish stockpiles in Israel.
Iran stated it would respond with “prolonged and painful strikes” against U.S. positions if Washington resumes attacks and reinforces its claims over the Strait of Hormuz.
Trump: “They are sitting in a cave. They want a deal badly…”
24 hours left.