Gold price prediction today: Gold under pressure, is it time to sell? Check outlook
Gold prices are facing significant downward pressure due to rising US yields and geopolitical uncertainty surrounding US-Iran relations. Analysts suggest that current market conditions make rallies an opportunity to sell.
Why it matters
Fluctuations in gold prices serve as a key indicator of global economic stability and investor sentiment during geopolitical crises.
Gold price prediction today: Gold prices are under extreme pressure and any rallies can be seen as an opportunity to sell, says Praveen Singh, Head Currencies and Commodities, Mirae Asset ShareKhan. Here's what he has to say:Gold Performance:In the week ending September 25, spot gold fell 2% to $4286 as US yields and Dollar Index spiked higher amid elevated oil prices. The US and Iran remained poles apart in their respective stands in the ongoing conflict that kept oil prices supported. Reeling under tremendous selling pressure, the shiny metal extended its sharp losses at the start of the week as the US President Trump rejected Iran's 7-day proposal that would have enabled it to reach a phased deal to open the Strait of Hormuz.
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