Spot gold faces slight pressure in Asian trading as US military conducts self-defense strike in southern Iran
Show original
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!
A welcome pack worth 6200 USDT for new users! Sign up now!
Golden Ten Data reported on May 26 that spot gold edged lower during the Asian session, following a statement from US Central Command claiming a self-defense strike in southern Iran that resulted in three deaths. This indicates that traders are closely watching potential escalation actions that could undermine negotiations. Earlier, local media reported explosions along the Strait of Hormuz, a passage authorized by Tehran for vessels to transit. In addition, Israel stated it will intensify strikes against Hezbollah during US-Iran negotiations. Since the conflict erupted at the end of February, gold prices have fallen by about 13%. As the war drives up energy prices and stokes inflation concerns, traders have increased their bets on US Federal Reserve rate hikes. Rising borrowing costs put pressure on gold, which does not pay interest.
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!
You may also like
Trending news
MoreThe Reserve Bank of New Zealand is expected to keep rates unchanged this week; hawkish remarks amid stagflation risks may briefly push up the New Zealand dollar.
Inflation data and major tech earnings reports set to be released, as the market fluctuates between rate hike fears and easing geopolitical tensions
Crypto prices
MoreBitcoin
BTC
$76,453.04
-0.76%
Ethereum
ETH
$2,083.75
-0.55%
Tether USDt
USDT
$0.9989
+0.01%
BNB
BNB
$657.98
+0.24%
XRP
XRP
$1.34
-0.79%
USDC
USDC
$0.9996
-0.01%
Solana
SOL
$84
-1.18%
TRON
TRX
$0.3741
+2.56%
Dogecoin
DOGE
$0.1007
-1.39%
Hyperliquid
HYPE
$59.05
-3.57%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now