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4 months ago

Version History

5 additional sources confirmed this story

Version 24 months ago

What changed: Added technical support levels at the 100-day SMA and linked the price pullback to robust US jobs data and the escalation of the Iran conflict.

Version 14 months ago

What changed: Added technical support at $4,400 and resistance at $4,800, while incorporating the impact of US dollar strength and interest rate expectations.

CommoditiesMediumUpdated×2•Originally published 4 April 2026•Updated 6 April 2026•

1 min read

Gold Gains 4% Weekly as Markets Eye Trump’s 48-Hour Deadline

Key Facts

1Gold prices climbed approximately 4% over the week, despite a 1.7% decline on Friday.

2President Trump has set a 48-hour deadline to reach a deal, impacting market movements.

3Gold rose alongside global indices during the week even as oil prices continued their ascent.

Gold prices recorded a 4% weekly gain despite a pullback on Friday, as markets remain focused on President Trump's 48-hour deadline for a diplomatic deal. The recent retreat in XAU/USD is specifically linked to robust US jobs data, which bolstered the US Dollar and reinforced higher interest rate expectations. However, geopolitical tensions remain a primary driver as the escalation of the Iran conflict provides renewed support for safe-haven assets. Analysts have identified key technical support at the 100-day SMA, currently situated between the $4,600 and $4,670 levels. Despite this support, gold continues to face significant technical resistance near the $4,800 mark. Traders are now balancing strong macroeconomic indicators against heightened geopolitical risks to determine gold's next directional move.

Sources:

forex.com

fxstreet.com