The gold market is currently experiencing significant fluctuations due to rising geopolitical tensions between Iran and Israel. Last week, these tensions, alongside a stable U.S. dollar, contributed to the volatility in gold prices. As investors navigate this uncertain landscape, the outlook for gold prices in the week of June 23 suggests a potential sideways to positive trend. Analysts have identified key support levels for gold at ₹97,000 to ₹98,000, while resistance is anticipated between ₹100,000 and ₹100,100.

The ongoing conflict between Iran and Israel has heightened global uncertainty, prompting investors to seek safe-haven assets like gold. This geopolitical unrest has been a major driver of market sentiment, influencing trading strategies and price movements. Additionally, the steady performance of the U.S. dollar has played a crucial role in shaping gold’s price trajectory. A strong dollar typically exerts downward pressure on gold prices by making it more expensive for holders of other currencies.

In this context, traders and investors are advised to closely monitor developments in the Middle East and their potential impact on global markets. The interplay between geopolitical events and currency fluctuations will likely continue to influence gold’s performance in the near term. Market participants should remain vigilant and consider both technical indicators and geopolitical news when making investment decisions.

As the situation evolves, the balance between risk aversion and market opportunities will be critical in determining whether investors choose to buy or sell gold. The current support and resistance levels provide a framework for understanding potential price movements, but unexpected developments could lead to rapid changes in market dynamics.