24/7 SUPPORT
Download App
Search
Popular Search
Published: 8 May 2026,06:30
Daily Market Analysis New
*Gold is underpinned by geopolitical risk that the U.S.–Iran tensions, Strait of Hormuz uncertainty, persistent central bank buying, and expectations of eventual Fed easing.
*Rising crude prices fuel inflation fears supporting gold long-term, but also delay rate cuts and strengthen the USD in the short term, creating volatility.
*Gold is highly reactive to U.S. data, especially payrolls and inflation, as these directly shape Treasury yields and Fed policy expectations.
Gold fundamentals remain strongly supported by geopolitical uncertainty, shifting Federal Reserve expectations, persistent central bank demand, and ongoing macro volatility driven by oil and U.S. data releases. Renewed U.S.–Iran tensions and instability near the Strait of Hormuz have revived safe-haven demand, pushing investors back into gold. On May 7, gold briefly surged toward $4,735–$4,764/oz on easing risk sentiment and a softer USD, before profit-taking and uncertainty pulled it back. By early May 8, prices were again edging higher around $4,717–$4,723, reflecting continued sensitivity to geopolitical headlines and dollar fluctuations.
Oil remains a key transmission channel for gold, as rising crude prices from Middle East tensions increase inflation concerns and influence Treasury yields and Fed expectations. While gold benefits from safe-haven demand during conflict, higher oil-driven inflation can delay Fed rate cuts and strengthen the dollar, creating short-term headwinds. Markets are now highly focused on upcoming U.S. payroll and inflation data, as weaker labor conditions would likely push yields lower and support gold, while stronger data could reinforce a hawkish Fed stance and cap upside. Falling real yields have already helped gold recover toward the $4,700–$4,800 region, though volatility remains elevated ahead of key macro releases.
Central bank buying continues to provide a strong structural floor for gold. China has extended its buying streak for 18 consecutive months, while countries like India, Poland, and Uzbekistan continue diversifying reserves away from the dollar. This sustained sovereign demand helps absorb supply and supports long-term bullish sentiment, even during corrections. Institutional forecasts also remain positive, with major banks still projecting gold above $5,000 into late 2026, supported by expectations of eventual Fed easing and continued geopolitical instability.
Overall, gold continues to act as both a geopolitical hedge and inflation hedge in a complex macro environment shaped by oil volatility, Fed policy expectations, and global risk sentiment. Technically, price remains range-bound between strong support around $4,600–$4,700 and resistance near $4,750–$4,800.Eyes are now firmly on today’s U.S. Non-Farm Payrolls (NFP), the key short-term catalyst. A weaker print would likely support lower yields, a softer dollar, and a breakout above $4,800, while a stronger reading could strengthen the dollar, lift yields, and trigger short-term downside pressure or consolidation in gold.
Technical Analysis
Gold, H4
Gold continues to recover strongly after defending the major support zone around 4520, where buyers stepped in twice to form a double-bottom structure. Price has now broken above the descending trendline resistance and reclaimed the 0.5 Fibonacci level near 4700, showing that bullish momentum is gradually returning. The recent rally toward 4745 also confirms higher lows and stronger buying pressure in the short term.
Momentum indicators are supporting the bullish outlook. RSI has pushed back above 60, reflecting strengthening bullish momentum without yet reaching extreme overbought territory. Meanwhile, MACD remains in positive territory, although the histogram is beginning to soften slightly, suggesting momentum is still bullish but may slow temporarily before the next move higher.
As long as gold holds above the 4700–4640 support area, buyers may continue targeting the next resistance around 4805, followed by 4825 and potentially 4890. A stronger breakout above these levels could open the path toward the psychological 4900 region. However, if price fails to hold above 4700, a pullback toward 4640 or even the key 4520 support zone could happen before the next bullish continuation.
Resistance Levels: 4745.00, 4825.00
Support Levels: 4640.00, 4520.00
Trade forex, indices, metal, and more at industry-low spreads and lightning-fast execution.
Sign up for a PU Prime Live Account with our hassle-free process.
Effortlessly fund your account with a wide range of channels and accepted currencies.
Access hundreds of instruments under market-leading trading conditions.
Trading Platforms
Learn
About PU Prime
Corporate
Important Notice to Visitors
Our products and services are not offered or made available to residents of your jurisdiction. The information on this Website is not directed at persons in your jurisdiction and is not intended as an offer, solicitation, or promotion of our products or services to them.
By clicking “I Understand”, you acknowledge this notice and confirm that you are accessing this Website at your own initiative. Access to this Website does not mean that our products or services are available to you.
Important Notice
Please be advised that our products and services are currently unavailable to residents and entities located in the Philippines.
This restriction is a result of our firm commitment to adhering to applicable legal and regulatory requirements in all jurisdictions where we operate. In line with our internal compliance protocols and evolving global standards, we continuously assess and update access to our platform to ensure full regulatory alignment.
We appreciate your understanding and cooperation.
If you believe this restriction has been applied in error, please contact our support team for further assistance.
Dear Valued Client,
As part of PU Prime’s ongoing commitment to providing a stable and reliable trading environment, please be informed of the following weekly weekend scheduled optimisation activities:
We sincerely apologise for any inconvenience this may cause as we strive to provide you with better service. PU Prime is committed to providing you with the best trading experience and this Weekly Scheduled Optimisation Notice will enable us to ensure that you trade without any unexpected interruptions.
For other upgrades that may involve longer disruptions to your trading, we will announce them ahead of time in a separate announcement.
Important Notice:
Important Notice: Please note the Website is intended for individuals residing in jurisdictions where accessing the Website is permitted by law.
Please note that PU Prime and its affiliated entities are neither established nor operating in your home jurisdiction.
By clicking the "Acknowledge" button, you confirm that you are entering this website solely on your own initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website which is provided on a reverse solicitation basis in accordance with the laws of your home jurisdiction.
Important Notice:
Please note the Website is intended for individuals residing in jurisdictions where accessing the Website is permitted by law.
Please note that PU Prime and its affiliated entities are neither established nor operating in your home jurisdiction.
By clicking the "Acknowledge" button, you confirm that you are entering this website solely based on your initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website which is provided on reverse solicitation in accordance with the laws of your home jurisdiction.
Aviso importante:
Ten en cuenta que el sitio web está destinado a personas que residen en jurisdicciones donde el acceso al sitio web está permitido por la ley.
Ten en cuenta que PU Prime y sus entidades afiliadas no están establecidas ni operan en tu jurisdicción de origen.
Al hacer clic en el botón "Aceptar", confirmas que estás ingresando a este sitio web por tu propia iniciativa y no como resultado de ningún esfuerzo de marketing específico. Deseas obtener información de este sitio web que se proporciona mediante solicitud inversa de acuerdo con las leyes de tu jurisdicción de origen.
