Gold staged a modest intraday rebound from the $3,983–$3,982 area to the top of
the session on Friday morning. The dollar remains below Thursday’s peak — its
strongest since May 2025 — after Fed rate‑hike expectations eased, providing
support for the metal. Reports that Iran’s Islamic Revolutionary Guard Corps
struck a Singapore‑flagged freighter in the Strait of Hormuz have renewed doubts
over the sustainability of the preliminary US‑Iran peace deal, a development
likely to limit further dollar weakness and pressure gold. The backdrop favors
sellers, supporting fresh selling on rallies and leaving gold on track for a
fourth consecutive weekly decline. Technicals are weak: RSI near 36, below the
50 neutral line, implying persistent downward pressure and that the current
Uptick is not a decisive recovery.
