Gold Holds Losses as US-Iran Ceasefire Wavers

The headline indicates that the US-Iran ceasefire is under strain, yet gold has managed to hold its losses. This may suggest weakening demand for gold despite geopolitical risks. On the technical indicators, the RSI stands at 61.8, in neutral territory, while the MACD remains below the signal line, pointing to short-term weakness. Although the price is well above the SMA20 and SMA50, indicating a strong long-term trend, the extreme rally of 1025% over the past 24 hours increases the risk of a correction. A short-term bearish trend is expected, but geopolitical developments could trigger sudden reversals.

Gold is maintaining its losses despite the deterioration of the US-Iran ceasefire, indicating that geopolitical risks may already be priced in. Technical indicators are sending mixed signals: the RSI is neutral at 58.7, the MACD is positive but approaching the signal line. The price remains above the 20- and 50-day moving averages, providing short-term support. However, profit-taking may occur following the 6.2% rally over the past 24 hours. Therefore, short-term direction remains uncertain.