Gold Could Open Lower, Putting the $3,890 Support Level Back in Focus

Gold prices traded within a narrow range over the last two sessions, but rising geopolitical uncertainty heading into the weekend could spark increased volatility when markets reopen. With the conflict between the United States and Iran showing no signs of easing, traders remain alert to the possibility of a gap at Monday’s opening.

The military confrontation intensified on Friday as U.S. forces carried out another wave of strikes against Iranian military infrastructure, including drone facilities and coastal surveillance sites, aiming to reduce threats to commercial shipping in the Strait of Hormuz. Iranian media confirmed missile strikes in several areas, while Tehran dismissed a U.S.-backed ceasefire proposal delivered through Iraqi officials, signaling that diplomatic efforts remain stalled.

The widening conflict has also fueled concerns over global energy supplies. Oil prices climbed to their highest level since May after Iran-backed Houthi forces claimed attacks on Saudi oil tankers in the Red Sea, raising fears that another key maritime route could face prolonged disruptions alongside the Strait of Hormuz.

Political uncertainty in Washington has added another layer of complexity. Although the U.S. House of Representatives passed a largely symbolic resolution urging President Donald Trump to end military operations against Iran without congressional approval, the measure is unlikely to alter current policy. Investors are now watching for any developments over the weekend that could influence market sentiment.

From a technical standpoint, Gold futures remain at an important crossroads. If prices fail to overcome the immediate resistance near $4,042, the market could open lower next week and revisit the key support level around $3,890. Conversely, a decisive break above resistance would strengthen the bullish outlook and reduce the likelihood of a deeper pullback.

With geopolitical tensions, energy market volatility, and political developments all in focus, weekend headlines are expected to play a decisive role in shaping Gold’s direction at the start of the new trading week.