Gold prices faced intense selling pressure following US strikes against Iranian targets, which were launched in response to the downing of an American helicopter. Although prices showed signs of stabilization by June 12, gold ultimately dropped by 2% on June 13 as it lost its safe-haven appeal despite the geopolitical unrest. Meanwhile, oil prices surged above $93 per barrel driven by the military escalation in the Middle East.
Gold shows early stabilization as buyers defend key support zones, suggesting a technical rebound despite prevailing overhead resistance levels.
Read the full storyGold prices fell 2% as safe-haven demand faltered despite US-Iran military escalation, while oil prices surged on heightened supply risk concerns.
Gold faces intense selling pressure following retaliatory US strikes against Iranian targets after reports of a downed American helicopter.