Gold prices are experiencing a selloff driven by rising oil prices (fueling inflation concerns) and dampened sentiment regarding a potential US-Iran deal.
Technical analysis indicates an accelerating bearish momentum, with Gold breaking below both the 100-MA and 200-MA on the H4 chart.
The primary downside target for sellers is the $4601 support level, while a relief rally would face resistance between the $4650 and $4700 zones.
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By Zain Vawda
Gold (XAUUSD:CUR) prices experienced a selloff in the Asian session as oil prices continue to rise, stoking inflation concerns. Markets continue to be driven by the potential for a deal between the US
