Gold prices have experienced a significant decline of nearly 7% since February 28, reflecting a shift in investor preference towards the US dollar as the primary safe-haven asset amid ongoing geopolitical tensions related to the US-Iran conflict. Although gold saw a 2.2% increase over the past week, this was limited by a 10% rise in crude oil prices, which has heightened inflation concerns and disrupted gold's traditional appeal as a safe investment. According to Sugandha Sachdeva, Founder of SS WealthStreet, the geopolitical landscape remains uncertain, with fluctuating rhetoric from both the US and Iran regarding potential ceasefires. The Iranian Revolutionary Guard Corps (IRGC) continues to block the Strait of Hormuz, keeping oil prices elevated and contributing to inflation worries. Furthermore, strong US labor market data, with non-farm payrolls rising by 178,000, supports expectations of a hawkish stance from the Federal Reserve, which in turn strengthens the dollar and caps gold gains. The overall sentiment in the market is cautiously optimistic, yet investors are hesitant to commit to a clear trend due to ongoing uncertainties. Technical analyses indicate that COMEX gold is facing resistance at $4,700–$4,750, while immediate support is seen around $4,400. For MCX gold, resistance levels are between ₹1,57,600 and ₹1,58,800 per 10 grams.