I noticed gold is moving strongly today near $4,728, and it is trying to stabilize above the $4,700 level after several days of fluctuation. Geopolitical tensions in the Middle East keep it elevated, especially with the declining hopes of a ceasefire between the U.S. and Iran.

The U.S. dollar is very strong right now, which directly pressures gold because it raises purchase costs for investors outside of America. However, U.S. bond yields are also rising, which reduces gold’s attractiveness as a safe haven. All this means the market is divided between fear of geopolitical crises and the strength of the dollar and U.S. yields.

The important thing currently is the upcoming U.S. inflation data — if it comes in lower than expected, gold may rise further. But if it shows an increase in core inflation, the Federal Reserve will remain hawkish and push gold downward.

From a technical perspective, gold is trying to form a new rising bottom near $4,670, which is a positive sign. The MACD indicator has started to give positive signals, and RSI is above 50, indicating that buying momentum is gradually returning.

Gold forecasts today and in the coming days suggest that the price may move between $4,650 and $4,800 in the short term. If it maintains the $4,700 level, it could reach $4,750–$4,800. But if it breaks below with a clear close, we might drop to $4,600.

Trump’s visit to China adds a new element of uncertainty — any additional geopolitical tension could support gold, but any diplomatic breakthrough might reduce its safe-haven demand. Oil is also rising, which reintroduces inflation fears to the markets, and that’s a double-edged sword for the precious metal.