GOLD: The King of Hedge During the Middle East Tensions

XAUUSD Gold Traders
06-18

Hello everyone! Today i want to share some macro analysis with you!

Wednesday (June 18) Asian market, gold prices are currently trading at 3392 U.S. dollars near. $Gold - main 2508(GCmain)$ $XAU/USD(XAUUSD.FOREX)$

Gold as the global financial market ‘king of hedge’, in the recent geopolitical and economic uncertainty under the dual drive, showing the bottom of the resilience. On Tuesday, gold prices touched a low of 3366 U.S. dollars after a strong rebound, closed at 3388.40 U.S. dollars near the K line pattern close to the cross, showing that the market more than the short game intense. Meanwhile, the price of silver soared to $37.22 per ounce, the highest level since 2012, triggering a hot debate in the market.

Gold's rise could not be separated from the Middle East tensions fuelled by the conflict between Iran and Israel into the fifth day, geopolitical risks continue to heat up, injecting strong momentum for safe-haven assets. However, the dollar index rose 0.7 % to bring price pressure, as well as the Fed interest rate decision before the wait-and-see mood, so that the gold price rise limited.

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Macro Trend
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