Gold 'hunts' stops under $4,110 support and rebounds: The bias remains neutral/bearish as oil rises

Gold briefly broke below the $4,110 support level but quickly rebounded, returning to trade above $4,110. Despite the recovery, the report says the outlook remains neutral to bearish because there is no clear improvement in fundamentals. Rising oil prices—linked to renewed U.S.-Iran escalation risks described as White House and Pentagon preparations for potential strikes—are expected to lift Treasury yields and rate-hike expectations, weighing on gold. The analysis suggests another “flush lower” is possible if risks don’t de-escalate, while a more dovish Fed could provide a floor via lower real yields. Technically, sellers are positioned to target $3,885 if price pulls back, while bulls want a break higher to aim for $4,400 first and up to $4,700.