Gold surged more than 1% to exceed $3,440, approaching record levels amid a sharp rise in safe-haven demand. The gains came after Israel's strike on Iran’s nuclear facilities, fueling concerns over a wider regional conflict. Uncertainty surrounding potential US tariffs added to market jitters. Additionally, softer US inflation data increased expectations for Federal Reserve rate cuts, enhancing gold's appeal as a non-yielding asset.
Resistance is seen at $3,430, while support holds at $3,350.
Resistance is seen at $3,430, while support holds at $3,350.
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