Gold managed to retreat again after Houthi militants said they attacked two Saudi Arabian tankers in the Red Sea, escalating the Middle East conflict and threatening deeper supply disruptions.
As we see over the intraday chart, the market is closing to the support 4040 zone at which could lead to a rebound.
Below 4040, the risk for a deeper drop could hit the market with support around 3940-60.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 4040 | 4100-10 |
| LEVEL2 | 3940-60 | 4165 |
| LEVEL3 | 3886 | 4200-20 |