S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
GoldMarketsOpinionTechnical Analysis
Chart of The Day – GOLD. XAU/USD lands on EMA200 as sell-off intensifies
The gold sell-off extends further (GOLD: -1.5%), bringing the precious metal futures down to its 200-days exponential moving average for the first time since March. This crucial technical retest is being driven by a potent combination of a surging safe-haven greenback and mounting pressure from a unified, hawkish US monetary policy.
GOLD has currently settled on its 200-day Exponential Moving Average (EMA), with the RSI hovering just a few points above the oversold threshold (>30). Notably, this recent wave of geopolitical volatility has been driven by lower trading volumes than those recorded in recent quarters. Source: xStation5
What’s driving GOLD today:
- US-Iran Military Escalation: The US downed four Iranian drones and destroyed a ground control station near the Strait of Hormuz, triggering a retaliatory Iranian strike on an American airbase in Kuwait. As peace talks stall, President Trump dismissed an Iran-Oman proposal to jointly restore and manage commercial shipping through the Strait of Hormuz, threatening to “finish the job” unless Tehran complies.
- Lebanon Truce Near Collapse: Meanwhile, Israel drastically intensified its campaign against Hezbollah in southern Lebanon, striking 550 targets this week and declaring a new combat zone. This heavy fighting pushes a fragile April ceasefire to the brink of collapse and has displaced over 1.2 million people.
- Dollar Surges on Deadlock: Renewed Middle East tensions, backpinned by the exchange of hostilities in the region, have put an abrupt end to the recent surge in peace-deal optimism. This worsening geopolitical deadlock has reignited intense safe-haven demand, aggressively propelling the US dollar back to key levels last seen during the height of the conflict in mid-March.
- Hawkish Fed Stance Diminishes Gold’s Appeal: Aggressive rhetoric from Federal Reserve policymakers has severely dented the attractiveness of non-yielding precious metals. Fed Governor Lisa Cook declared a readiness to resume interest rate hikes if sticky inflation forces it, while Neel Kashkari noted that a solid labor market provides ample room for sharper policy tightening. This united front has directed capital into a strengthening US dollar, dramatically increasing the opportunity cost of holding gold over yield-bearing assets.
