Middle East heats up, GOLD rises more than 20 USDIn the Asian trading session, the spot price of OANDA:XAUUSD suddenly jumped by more than 20 USD in the short term and the gold price just touched 3,135 USD/ounce. The situation in the Middle East suddenly became tense and the US Department of Defense sent more aircraft carriers and bombers to the Middle East, increasing risk aversion, which boosted the demand for safe havens.
The latest news from Bloomberg News in the US said that in the context of the US declaring to continue the fight against the Iran-backed Houthi rebels and escalating tensions with Iran over Iran's nuclear program, US Secretary of Defense Pete Hegseth ordered the dispatch of more troops to the Middle East, including the USS Carl Vinson aircraft carrier strike group and many fighter jets.
The Carl Vinson will arrive in the region after completing the Indo-Pacific exercise. Pentagon spokesman Sean Parnell said in a statement Tuesday that the Defense Department will also extend the deployment of the USS Harry S. Truman Carrier Strike Group in the region. The rare deployment of two aircraft carriers echoes a show of force last year under the Biden administration.
"Secretary Hegseth made clear once again that if Iran or its proxies threaten U.S. personnel and interests in the region, the United States will take decisive action to protect our people," Parnell said.
Iran's Supreme Leader Ayatollah Ali Khamenei said on Monday that any attack by the United States or Israel would be met with "decisive retaliation." US President Donald Trump has previously threatened to bomb Iran if it does not sign a deal to give up its nuclear weapons.
Last week, Iranian Foreign Minister Abbas Araghchi said there would be no direct talks with the United States as long as the Trump administration continued its "military threats." "If there is no deal, the bombing will come," Trump warned in an interview last weekend.
Technical Outlook Analysis OANDA:XAUUSD
On the daily chart, gold tested the 0.786% Fibonacci extension level and declined slightly after receiving support from the 0.618% Fibonacci extension level. As we have communicated to our readers in previous publications, given the current fundamental context and technical chart conditions, further price declines are possible, but should only be considered as short-term corrections and not a trend. Or we can consider the downward corrections as another buying opportunity.
As long as gold remains within the price channel, there is still a long-term main uptrend, with the main support from the EMA21 and the short-term trend is highlighted by the price channel.
For now, gold is capped by the $3,135 level, once this level is broken above gold, there will be conditions to continue to refresh the all-time high set on yesterday's trading day with the next target being the $3,172 price point of the 1% Fibonacci extension.
During the day, the bullish outlook of gold will be highlighted by the following technical levels.
Support: $3,108 – $3,100 – $3,086
Resistance: $3,135 – $3,149 – $3,172
SELL XAUUSD PRICE 3171 - 3169⚡️
↠↠ Stoploss 3175
→Take Profit 1 3163
↨
→Take Profit 2 3157
BUY XAUUSD PRICE 3085 - 3087⚡️
↠↠ Stoploss 3081
→Take Profit 1 3093
↨
→Take Profit 2 3099