This morning, Iran announced that it is making efforts to ensure the peace negotiations with the United States scheduled for Friday will focus solely on the core issue of nuclear matters and does not want the involvement of other countries.
This has raised doubts that the negotiations between the U.S. and Iran could be disrupted, and gold prices were immediately supported, surging strongly this morning by more than $140, breaking through the key resistance zone at $5,000/ounce.
The U.S. government also announced that it will resume normal operations after a three-day partial shutdown. The Nonfarm Payrolls report will still be released as scheduled, and the market is strongly focused on this Friday, with both the Middle East negotiations and the U.S. Nonfarm Payrolls data taking place.
The gold price trend has been reinforced again after last week’s sharp drop of more than 21%. At the current time, traders may look for a slight pullback in gold prices to BUY again before major news is released.
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