Gold Price Forecast: XAU/USD appears a ‘buy-the-dips’ trade on simmering Israel-Iran tensions

Gold price attempts another run to reclaim $2,400 amid looming geopolitical risks. US Dollar pulls back with Treasury yields despite hawkish Fedspeak, as risk appetite returns. Gold price confirmed a symmetrical triangle breakdown on 4H but defends 50-SMA support. Gold priceis replicating the tepid recovery mode seen in Wednesday’s Asian trading early Thursday, having faced rejection just shy of $2,400 for the second day in a row.

The US weekly Jobless Claims and housing data will also offer some incentives to Gold traders in the day ahead. Gold price technical analysis: Four-hour chart Gold price confirmed a symmetrical triangle breakdown on the four-hour chart on Wednesday, reviving the selling interest around the Gold price. Following the renewed downswing, Gold price breached the 21-Simple Moving Average , now at $2,372.

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