Gold (XAU/USD) surged 3% as easing US–Iran tensions and expectations of a more dovish Federal Reserve weakened the US dollar. However, the rally is facing resistance near the 20-day and 50-day moving averages, while firm US real yields continue to cap upside momentum. Technical indicators suggest bullish momentum is fading, with bearish divergence on RSI and resistance at 4,775 remaining a key hurdle. Traders are now watching whether gold can sustain gains or resume its broader correction.
07-05-2026 05:51 GMT
by Kelvin Wong