Gold prices maintained their gains on Thursday, looking to stabilize above the broken trend line. If the yellow metal manages to stabilize above the aforesaid trend line, it may test resistance levels of $5235 and $5267. On the downside, if the price falls below the daily pivot point at $5160, it may decline towards support levels at $5115 then $5079.

The yellow metal rose 0.3% today, seeking to maintain its gains for the second consecutive session amid economic uncertainty.

Market Watch

Iran, US resume nuclear talks

Iran and the U.S. will hold a new round of talks in Geneva on Thursday to address their long-standing nuclear dispute and prevent potential U.S. military action after Iran’s recent major troop buildup.

The two countries renewed negotiations this month, hoping to tackle a decades-long stand-off over Tehran’s nuclear program, which Washington, other Western states and Israel believe is aimed at building nuclear arms.

Dollar slips after Nvidia beats earnings expectations

The dollar index fell slightly on Thursday after Nvidia announced better-than-expected results for the first quarter on Wednesday and predicted that current quarter revenues would exceed market estimates, betting that major technology companies would continue to spend on artificial intelligence processors.

US tariffs could rise from 10% to 15%

The U.S. plans to raise tariffs for certain countries to 15% or more from the recent 10%, Trade Representative Jamieson Greer said Wednesday, without specifying which partners or providing additional details.

Looking Ahead

As of 13:30 GMT, investors will carefully watch the U.S. weekly jobless claims report, which may provide clues about the Fed’s monetary path.