Gold climbed 0.4% to $3,302.02/oz in Asian trade on Wednesday, led by reports that Israel may strike Iran’s nuclear facilities and a softer dollar.
Geopolitical Risk Spurs Safe-Haven Flows
CNN reported Israeli forces are preparing for a possible attack on Iran’s nuclear sites—moves likely to ignite a harsh regional response. Heightened Middle East instability typically drives demand for non-yielding assets like gold.
Dollar Down, Fiscal Uncertainty Remains
The U.S. Dollar Index dipped 0.3%, pressured by concerns over U.S. debt levels and the Trump administration’s proposed $3–5 trillion tax-cut bill. Market watchers can track key upcoming dates—such as Treasury auctions and Fed speeches—using the Economics Calendar API to anticipate further currency-driven shifts.
Other Precious Metals in Focus
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Silver edged up 0.2% to $33.26/oz, benefiting from the broader rally in metals.
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Platinum fell 1% to $1,050.50/oz, underperforming amid mixed industrial demand.
Key Levels and Next Moves
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Support: $3,300/oz
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Resistance: $3,350/oz
For real-time price updates and liquidity insights, market participants can integrate live feeds from the Commodities API into their analytics platforms, ensuring they’re ready to act on sudden geopolitical or macroeconomic developments.
