Gold opens with a bearish gap following Friday’s late pullback from the $4,900 neighborhood, or a one-month high, and slides below the $4,750 level at the start of a new week, hitting a one-week low during the Asian session. Worsening US-Iran tensions over the Strait of Hormuz have dampened hopes for further peace talks before the current ceasefire ends on April 21. Moreover, rallying Oil prices revive inflationary concerns and hawkish Fed bets, which further boost the US Dollar and weigh heavily on the bullion.
Source: https://www.fxstreet.com/news/china-pboc-interest-rate-decision-in-line-with-expectations-3-202604200106
