$PAXG Price Remains Steady Above $5,100 as US-Iran War Sparks Precious Metal Demand 🪙🔥
$PAXG price climbed again, rising about 0.9% to $5,202 an ounce, as the conflict in Middle East entered its sixth day and pushed investors toward safer assets. 📈 With market shock and oil prices rising, traders are buying XAU to protect capital — the precious metal price is already up roughly 20% this year.
The Strait of Hormuz is nearly blocked after strikes on fuel infrastructure, raising fears of massive shock in oil supply. ⛽️ Reports that a US warship sank an Iranian vessel were denied by Iranian media, which said their intelligence wanted to sit on the table for talk to end the conflict.
A weaker US dollar also helped gold’s rally. The Dollar Index fell about 0.4% over the last two days, making gold $XAU more attractive to buyers who are holding other currencies. 💵➡️🪙
Technically, #PaxG prices bullish trend remains strong after earlier gains and may rise higher if geo-political tensions persist. For now, investors are watching oil, geopolitics and dollar price movement closely — factors that will likely drive #PAXGUSDT next movement. 🔍
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