coin-img-ETHETH-1.95%coin-img-BTCBTC-0.62%coin-img-SOLSOL+1.25%coin-img-TONCOINTONCOIN+28.52%coin-img-INTEINTE+3,118.84%coin-img-XRPXRP-0.82%coin-img-USDCUSDC+0.00%coin-img-KAIOKAIO+310.02%coin-img-ETHETH-1.95%coin-img-BTCBTC-0.62%coin-img-SOLSOL+1.25%coin-img-TONCOINTONCOIN+28.52%coin-img-INTEINTE+3,118.84%coin-img-XRPXRP-0.82%coin-img-USDCUSDC+0.00%coin-img-KAIOKAIO+310.02%coin-img-ETHETH-1.95%coin-img-BTCBTC-0.62%coin-img-SOLSOL+1.25%coin-img-TONCOINTONCOIN+28.52%coin-img-INTEINTE+3,118.84%coin-img-XRPXRP-0.82%coin-img-USDCUSDC+0.00%coin-img-KAIOKAIO+310.02%coin-img-ETHETH-1.95%coin-img-BTCBTC-0.62%coin-img-SOLSOL+1.25%coin-img-TONCOINTONCOIN+28.52%coin-img-INTEINTE+3,118.84%coin-img-XRPXRP-0.82%coin-img-USDCUSDC+0.00%coin-img-KAIOKAIO+310.02%
user-avatar
Arnne Carragie

Gold Rebounds to $4,660: Bullish Engulfing Pattern Forms as Hormuz Ceasefire Faces Durability Test

Gold (XAU/USD) surged 1.97% to close at $4,661.1 on the daily chart, staging a powerful recovery after weeks of consolidation. The latest price action formed a bullish engulfing pattern, decisively reclaiming the key horizontal support at $4,505. While the market initially found relief in the conditional two-week U.S.-Iran ceasefire, gold's sharp $90 bounce suggests investors are increasingly wary of the truce's long-term durability.
Disclaimer: The content above is only the author's opinion and does not represent BingX’s stance. It shall not be construed as investment advice from BingX. For details, refer to the Terms and Conditions.