Daily Market Report
➢ Gold slumps to a fresh low since March, dropping below $4,200 as renewed US-Iran tensions and hawkish Fed bets pile on pressure.
➢ Gold’s chart points to a continuation of the downtrend, with the near-term backdrop appearing increasingly less supportive.
➢ Iran shot down a US military helicopter, prompting Trump to vow a response and reigniting fears of direct US-Iran conflict.
➢ Iran’s foreign minister warned Gulf states they have a legal and moral responsibility to prevent US and Israeli strikes.
➢ Oil holds flat below $87.50 as markets weigh fresh hostilities against ceasefire fragility, with bears eyeing a 100-day SMA breakdown.
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