Gold Price Forecast: This Week’s Rally Puts $4,800 Back in Play, But Iran and Fed Risks Loom
Gold rose 2.3% for the week, ending at $4,719.68 an ounce on Friday, as hopes for a U.S.-Iran deal eased inflation fears and weakened the dollar. U.S. gold futures settled at $4,730.70. Traders are watching if bullion can hold above $4,700 and break resistance near $4,780-$4,900. U.S. payrolls grew by 115,000 in April, above forecasts, keeping the Fed cautious on rate cuts.