Gold Trend Shifts to Sell as Geopolitical Tensions Ease

Safe-haven assets like Gold and silver declined as the Iran-Israel conflict de-escalated following US intervention. The bias for XAUUSD has turned bearish, though a retracement to key levels may offer shorting opportunities this week.

Federal Reserve Chair Powell's upcoming speech could trigger volatility—hawkish rhetoric may pressure gold, while dovish tones could weaken the dollar and support prices. Mixed US economic data creates crosscurrents: marginally improved ISM Manufacturing PMI still signals contraction, while stronger-than-expected JOLTS and ADP employment figures renew rate hike expectations.

The labor market remains a critical driver. Friday's NFP miss (120K vs 139K expected) and slowing wage growth provided temporary relief for gold bulls, but resilient employment data continues to cap upside potential.