MICROCHIP SHARES UP 2.7% PREMARKET AFTER Q4 REVENUE BEATS ESTIMATES

Gold prices traded above $4,700 per troy ounce, supported by central-bank buying and investor demand for safe-haven assets amid ongoing Middle East tensions. Analysts at Saxo Bank said gold’s resilience despite strong equity markets reflects sustained central-bank demand as well as concerns over inflation, slowing growth, and rising fiscal debt. New York futures rose 0.1% to $4,715.20 and were on track for a weekly gain of 1.5%. Markets also monitored the U.S.-Iran conflict, where both sides exchanged fire, though President Donald Trump said the cease-fire remains in place while mediation efforts continue toward a possible framework for renewed negotiations.

Gold retains a positive technical structure as long as it holds above the $4,680-an-ounce level, XS.com’s Simon-Peter Massabni says. He notes this zone now serves as immediate support for the metal. The recent breakout has “triggered fresh algorithmic buying and institutional inflows,” he says, raising the probability of another test of the psychological $4,800 level if momentum continues. Spot gold is up 1.0% at $4,727.99 an ounce.