Why gold is showing signs of reversal after recent selling pressure

Gold is showing early signs of a reversal after recent selling pressure, supported by renewed safe-haven demand due to US-Iran geopolitical tensions and concerns over oil supply disruptions through the Strait of Hormuz. Strong central bank purchases above historical averages and robust Chinese demand continue to underpin the metal, while India's upcoming festive and wedding season is expected to boost physical demand. However, a firm US dollar, elevated Treasury yields, and resilient US economic data limiting Fed easing remain key headwinds for prices.