Trump says Iran war "close to over" amid hopes for more negotiations
Gold prices have continued their upward momentum over the last two sessions. During today’s European trading hours, Gold June Futures traded near $4773.90 per ounce, while Gold Spot (XAUUSD) hovered around $4747.72 per ounce.
The rally in gold is being supported by a weaker US dollar and short covering, while rising energy prices and ongoing Middle East tensions are increasing inflation concerns. These factors have reduced expectations of a US rate cut, with markets now largely pricing out any Federal Reserve easing in 2026. Fed Chair Jerome Powell has also maintained a cautious stance, highlighting the need to assess the broader economic impact of geopolitical developments.
What’s Next for Intraday Traders?
After the recent sharp upside, profit booking is likely at higher levels. Traders should look for short-term selling opportunities, as a correction may unfold in the coming hours.
Sell Gold at High Levels - Intraday Strategy for Big Gains
Gold prices have continued their upward momentum over the last two sessions. During today’s European trading hours, Gold June Futures traded near $4773.90 per ounce, while Gold Spot (XAUUSD) hovered around $4747.72 per ounce.
The rally in gold is being supported by a weaker US dollar and short covering, while rising energy prices and ongoing Middle East tensions are increasing inflation concerns.
These factors have reduced expectations of a US rate cut, with markets now largely pricing out any Federal Reserve easing in 2026. Fed Chair Jerome Powell has also maintained a cautious stance, highlighting the need to assess the broader economic impact of geopolitical developments.
What’s Next for Intraday Traders?
After the recent sharp upside, profit booking is likely at higher levels. Traders should look for short term selling opportunities, as a correction may unfold in the coming hours.
Intraday Strategy:
- Sell Gold June Futures: $4773 - $4783
- Sell Gold Spot (XAUUSD): $4747 - $4757
- Stop Loss: Open (as per risk management)
Targets:
Gold June Futures:
• TGT 1: $4690
• TGT 2: $4670
• TGT 3: $4650
Gold Spot (XAUUSD):
• TGT 1: $4660
• TGT 2: $4640
• TGT 3: $4620
Conclusion
Traders are advised not to miss this opportunity to sell at higher levels, as profit booking could emerge anytime, potentially leading to a short-term decline. Follow strict risk management and trade accordingly.
