****Gold $4680-4723 rally holds amid Iran deadline/Fed shifts/CB buys; Putin/Uzbek tighten****
Key Questions
What is driving the current gold price rally?
Gold rallied to $4680-4723, holding $4500-4674 dips amid USD, oil at $108+, and Trump Iran deadline tensions. A potential war could push to $5200, while a deal might see $4500.
What are the key support and resistance levels for gold?
June futures at $4723/spot $4674-4800+ hold $4500-4674, with weekly resistance at $4780-4800 and 200DMA at $4500. A break above $5055 signals further upside.
How is the US-Iran situation affecting gold prices?
Trump's Iran deadline and two-week ceasefire optimism drove rebounds, with gold climbing on paused attacks. Markets await resolution, with ceasefire boosting prices toward $4900.
What do analysts forecast for gold in 2026-2027?
Goldman sees $5400, JPM $6300-10k, UBS $5900-6200 by '27. FY27 CB buys projected at 750-850t amid global uncertainty.
What is the role of central banks in gold demand?
CBs bought over 4200t, with Putin and Uzbek tightening supplies. Ongoing accumulation supports bullish outlook despite mixed ETF flows.
How are Fed shifts impacting gold?
Fed real rates and hawkish outlook cause dips, but shifts create buying opportunities. RSI remains bullish with Elliott wave targeting $5000-6k+.
What are ETF flows telling us about gold?
Mixed ETF flows saw $11B outflows in March, with HDFC ETF paper gold noted. Physical vs. paper dynamics persist.
What technical analysis supports buying pullbacks?
TA advises buying pullbacks, with RSI bull signals and Apollo's surge-pullback analysis. Weekly outlook eyes $4780-4800 resistance.
June fut $4723/spot $4674-4800+ holds $4500-4674 dips on USD/oil$108+/Trump Iran deadline (war $5200/deal $4500)/Fed real rates/HDFC ETF paper/RBI/TA buy pullbacks/RSI bull/Elliott $5000-6k+/weekly $4780-4800 resist/200DMA$4500/>5055 break/mixed ETF flows $11B Mar out/CBs 4200t+/Goldman$5400/JPM$6300-10k/UBS$5900-6200'27/Putin/Trump/Fed/FY27 CB750-850t/Apollo pullback analysis.