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The article analyzes the recent performance of gold and offers insights into potential future market movements. The author highlights the recent upward trend in gold prices despite a strengthening US dollar and rising yields, attributing this resilience to safe haven demand and disappointing US economic data.
The article identifies key factors that could impact gold prices in the coming week. It emphasizes the importance of geopolitical tensions, particularly the ongoing conflict in Gaza and the potential for escalation between Israel and Iran. The author suggests that if these tensions remain contained, gold may experience a decline early in the week.
The article stresses the importance of upcoming economic data, particularly US retail sales figures, as a key indicator of consumer spending and overall economic health. Traders are expected to pay close attention to this data, as it could influence gold price movements. Additionally, the author suggests that a dip-buying strategy remains a preferred approach for investors in the current market environment.
Source: Gold may slide lower if Middle East tension remains contained. Buy on dips