GOLD (Bullish trend, with increasing Tensions)

A senior Iranian official told Reuters news agency that Iran "has no plan for immediate retaliation against Israel" after the attack on Isfahan province, downplaying current fears of further escalation in the war between the two countries. It remains to be seen whether this latest attack is more than just a symbolic action by Israel to appease hardliners in the government, or whether it is the beginning of more military retaliation after the Iranian drone attack earlier last Saturday.

Safe haven assets experienced a surge in response to recent news, with gold rising above $2,400 per ounce. U.S. Treasuries, the Japanese yen, and the Swiss franc also saw increased demand. However, some of these initial gains have diminished as traders adjust their positions following recent remarks from Iran.

Technically:
The price remains bullish amid ongoing tensions in the Middle East, having reached $2,419. As long as the price stays above $2,378, the bullish trend is likely to continue, potentially reaching $2,397 and $2,420 or higher if tensions escalate. Any further actions from Iran could sustain this upward trend. However, a drop below $2,378 could lead to a decrease in price to $2,358.

Pivot Price: 2378
Resistance price: 2397, 2420, 2430
Support price: 2368, 2357, 2342

The expected trading range for today is between support 2357 and Resistance 2450