Gold price (XAU/USD) attracts some dip-buying on the first day of a new week and stalls its retracement slide from a fresh all-time peak, around the $2,431-2,432 area touched on Friday.
Gold price regains positive traction in reaction to Iran’s attack on Israel over the weekend. The upside remains capped amid hawkish Fed eral Reserve expectations and a bullish USD. The US Retail Sales and Empire State Manufacturing Index are eyed for short-term impetus. Gold price attracts some dip-buying on the first day of a new week and stalls its retracement slide from a fresh all-time peak, around the $2,431-2,432 area touched on Friday.
Hence, any subsequent move beyond the Asian session peak, around the $2,371-2,372 area, is more likely to confront stiff resistance and remain capped near the $2,400 mark. The subsequent move up, however, has the potential to lift the Gold price back towards the record peak, around the $2,431-2,432 region touched last Friday.
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