Gold is testing key resistance as oil-driven inflation, geopolitical tensions, and tightening financial conditions support safe-haven demand despite a strong dollar and higher yields.
Gold (XAU) prices are testing the $4,600 area as oil remains elevated after latest Middle East escalation and financial conditions continue to tighten. In my view, this setup points to a market at a critical inflection point, where the next move is likely to be decisive rather than gradual. This article outlines the macro drivers, liquidity backdrop and gold-silver signals that point to the next move in gold.