Gold Holds Steady Amid Cooling Tensions and Weak US Data

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Hey guys, here's the latest update from the gold market:

Gold held firm during the New York session on Wednesday, rising by more than 0.30% as easing tensions between Israel and Iran boosted risk sentiment. At the same time, disappointing US housing data raised speculation that the Fed might need to adjust its tone. However, hawkish remarks from Fed Chair Jerome Powell continued to cap any strong upside in gold.

At the time of writing, XAU/USD is trading around $3,334, up 0.34%. The US dollar has pulled back some of its earlier gains, and Wall Street is ticking higher with modest gains.

My Take:
Gold is still moving within an accumulation range, bouncing between two trendlines and comfortably holding above the $3,300 mark.

Key Zones to Watch:
🔥 Sell Zone: $3,364 – $3,366
🔥 Buy Zone: $3,302 – $3,300

⚠️ Scalpers, take note: Use a 50-pip stop loss and go for a bigger take profit.

Trade smart and stay sharp out there! 💪

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