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Apr 13, 2026
Is Gold Losing Momentum Despite Geopolitical Tensions?
Gold movements amid a balance between dollar strength and geopolitical tensions
Gold Moves Amid Dollar Strength and Market Anticipation
Gold prices are showing mixed performance at the start of the week, trading near 4730.57, with slight downside pressure despite ongoing geopolitical tensions that typically support demand for safe haven assets.
This performance comes as gold faces pressure from a stronger US dollar, along with reduced expectations for interest rate cuts, which lowers the appeal of non-yielding assets like gold. Additionally, rising oil prices are increasing inflation concerns, reinforcing expectations of a more hawkish monetary policy.
Despite these pressures, uncertainty in global markets continues to provide partial support for gold, especially amid ongoing geopolitical risks, creating a balance between negative and supportive factors.
How Are These Factors Affecting Gold?
Gold is currently influenced by two main forces: pressure from dollar strength and interest rate expectations on one side, and support from geopolitical tensions and safe-haven demand on the other.
This mixed environment is clearly reflected in price action, as gold struggles to extend gains despite supportive factors, indicating a state of market hesitation ahead of key economic data.
A technical look at the XAUUSD pair on the hourly timeframe
Gold is trading near 4730.57 after pulling back from recent highs, while maintaining relative stability above key support levels.
Momentum is turning slightly negative in the short term, as the MACD indicator continues to lose strength, reflecting ongoing corrective pressure despite the overall bullish trend.
- Trend: Bullish
- Support: 4715 – 4655
- Resistance: 4790 – 4865
Outlook:
Holding above 4715 supports a potential recovery toward 4790 and then 4865, especially if the dollar weakens.
A break below 4715 may lead to further downside toward 4655 before attempting to resume the uptrend.