United States CFTC Gold NC Net Positions: $164K vs $162.5K

Gold (XAU/USD) recovered above $4,700 after dipping to a fresh 10‑day low below $4,660 earlier in the day, but it lacks follow-through and looks set to finish the week in negative territory. Intensifying US‑Iran tensions support safe‑haven demand, yet reviving inflation fears and a firmer US dollar — which reduces expectations for a dovish Fed — are weighing on the yellow metal and limiting upside. Overall price action shows short-term recovery but subdued momentum, leaving gold vulnerable to both geopolitical-driven spikes and dollar strength.