I. Geopolitical Impasse and Shipping Suspensions Push Energy Prices Higher

Middle East diplomatic prospects dimmed as Washington noted no scheduled negotiations with Tehran, while Iran reiterated that the Strait of Hormuz remains closed until sanctions are lifted and assets unfrozen. Following missile activity and vessel strikes, the UAE suspended all trade and shipping ties with Iran. Surging energy prices reinforced inflation concerns and central bank interest rate tightening expectations.

II. Technical Analysis: Low-Level Consolidation Below Downward Moving Averages

Spot gold touched an intraday low of $4,324.62 before stabilizing near $4,340.04 (+0.13%). On the 30-minute chart, MA20 ($4,351.07) and MA30 ($4,344.89) are sloping downward, establishing immediate dynamic overhead resistance.

III. Key 30-Minute Technical Indicators

MACD(12,26) reads -5.64 with active sell signals.

ADX(14) registers 31.00, confirming solid downward trend continuity.

RSI(14) stands at 38.02 in weak territory.

StochRSI(14) recovered to 50.53, returning to the neutral midpoint.

IV. Short-Term Market Outlook

Energy supply risks continue to anchor elevated interest rate expectations, keeping systemic pressure on non-yielding gold. While oversold conditions triggered low-level stabilization above $4,324, overhead moving averages near $4,351 limit near-term upside. Key support sits at $4,324, with resistance capped at $4,351.