~ What lies Ahead
Markets now await Tuesday's US consumer price index data, expected to show inflation remains sticky. Federal Reserve Chair, Powell's tenure also concludes this week, marking the end of an era defined by resistance to political influence over monetary policy.
XAUUSD Market Update - 11th May, 2026
~Trump Rejects Iran Peace Proposal
Gold dropped over 1%,sliding from around $4,700 to near $4,650 after President Trump smashed Iran's peace proposal as"totally unacceptable."Tehran defiantly vowed never to"bow our heads before the enemy"
The diplomatic setback has crushed hopes for a quick resolution to the 10-week conflict surrounding the Strait of Hormuz.
~Price Action
Gold futures fell 1% to $4,684.80, with spot gold declining 0.4% to $4,697.85. Silver slipped 0.1% to $80.24.
Like I said earlier, Xausd eventually hit the 4030 zone and started dropping. It dropped to 4005 and right now, it is still trying to gain strength to 4040 zone. My bias is still that Gold is bullish on the HF but its corrective bearish move is still incomplete.