The Israel-Iran conflict has increased the safe-haven role of gold, while pushing up oil prices, putting further pressure on inflation alongside the tariff pressure from the Trump administration.
Although the Israel-Iran conflict may continue to push gold prices higher this week, investors should be cautious and avoid chasing the development of this conflict. Because, gold price increases due to geopolitical events are usually short-lived.
In addition to the Israel-Iran conflict, markets will witness a speech by Fed Chairman Powell this week. With the Trump administration’s tariff policy still complicated and the Israel-Iran conflict escalating, the Fed Chairman may continue to signal that interest rates will remain unchanged at the July FOMC meeting. However, there is growing speculation that the Fed may begin laying the groundwork for a rate cut later this year.
In the short term, gold prices may be less affected by the Fed's monetary policy. Investors will pay more attention to the Trump administration's tariff policy, especially when the 90-day tariff suspension is about to end.
![GOLD MARKET ANALYSIS AND COMMENTARY - [Jun 16 - Jun 20]](https://s3.tradingview.com/d/d4OqwTOH_mid.png)
Technical Outlook Analysis
XAUUSD
Technical analysis still shows an upward trend in gold prices in the medium and long term, although gold prices will inevitably have periods of adjustment and accumulation, especially when the Israel-Iran conflict subsides.
Accordingly, if the gold price surpasses 3,446 USD/oz, it may continue to increase to the 3,500 USD/oz area. Conversely, if the gold price trades below 3,446 USD/oz, it may adjust to around 3,344 - 3,373 USD/oz, or even lower.
Notable technical levels are listed below.
Support: 3,400 – 3,371 USD
Resistance: 3,435 – 3,500 USD
SELL XAUUSD PRICE 3485 - 3483⚡️
↠↠ Stop Loss 3489
→Take Profit 1 3477
↨
→Take Profit 2 3471
BUY XAUUSD PRICE 3417 - 3419⚡️
↠↠ Stop Loss 3413
→Take Profit 1 3425
↨
→Take Profit 2 3431
Although the Israel-Iran conflict may continue to push gold prices higher this week, investors should be cautious and avoid chasing the development of this conflict. Because, gold price increases due to geopolitical events are usually short-lived.
In addition to the Israel-Iran conflict, markets will witness a speech by Fed Chairman Powell this week. With the Trump administration’s tariff policy still complicated and the Israel-Iran conflict escalating, the Fed Chairman may continue to signal that interest rates will remain unchanged at the July FOMC meeting. However, there is growing speculation that the Fed may begin laying the groundwork for a rate cut later this year.
In the short term, gold prices may be less affected by the Fed's monetary policy. Investors will pay more attention to the Trump administration's tariff policy, especially when the 90-day tariff suspension is about to end.
Technical Outlook Analysis
XAUUSD Technical analysis still shows an upward trend in gold prices in the medium and long term, although gold prices will inevitably have periods of adjustment and accumulation, especially when the Israel-Iran conflict subsides.
Accordingly, if the gold price surpasses 3,446 USD/oz, it may continue to increase to the 3,500 USD/oz area. Conversely, if the gold price trades below 3,446 USD/oz, it may adjust to around 3,344 - 3,373 USD/oz, or even lower.
Notable technical levels are listed below.
Support: 3,400 – 3,371 USD
Resistance: 3,435 – 3,500 USD
SELL XAUUSD PRICE 3485 - 3483⚡️
↠↠ Stop Loss 3489
→Take Profit 1 3477
↨
→Take Profit 2 3471
BUY XAUUSD PRICE 3417 - 3419⚡️
↠↠ Stop Loss 3413
→Take Profit 1 3425
↨
→Take Profit 2 3431
Trade active
Plan BUY +70pips so fast☘️Note
Faced with concerns about the developments of the war between Iran and Israel, this morning, the price of gold increased sharply, surpassing 3430 to establish a secondary peak. Immediately after that, the price of gold began to reverse and decrease to around 3410.Note
After hitting an eight-week peak, gold prices fell more than 1% to $3,385.20 an ounce due to profit-taking pressure. However, the escalation of geopolitical tensions in the Middle East, especially the ongoing conflict between Israel and Iran, still supported gold prices to rise back to $3,400 an ounce.Note
Note
🔴Spot gold prices fell by $8 in a short time, currently at $3,380.6/ounce. New York gold futures fell below $3,400/ounce, down 0.21% on the day.Note
🔴Spot gold prices continued to decline, down 1.00% on the day to $3,333.82 an ounce.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🔰| Forex trading
🧩Get an average of 1200 pips per month
🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
🚨🚨🚨FREE SIGNALS: t.me/+8q3AxDD9CsRjYzI1
🧩Get an average of 1200 pips per month
🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
🚨🚨🚨FREE SIGNALS: t.me/+8q3AxDD9CsRjYzI1
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.