The market remains calm: No major US data, Fed hawkishness digested, Iran crisis without new escalation. Gold is currently trading just above 5,000 USD and shows a slight upward tendency – typical for Fridays. Historically, gold is often in demand on Fridays because investors want to be “safely” positioned over the weekend. Here is a brief look at why this pattern holds and what traders should watch today.
Why Gold Often Rises on Fridays
Gold has shown a statistically significant Friday pattern for decades: In 60–70 % of cases, it closes higher on Fridays than on Thursdays (depending on the period and data source). The main reasons:
- Weekend Risk Premium: Many institutional investors and funds do not want to be “naked” over Saturday/Sunday – gold as a classic safe haven is therefore bought on Fridays.
- Geopolitical Uncertainty: Even without an acute crisis (such as the current Iran situation), the weekend remains a “risk window” – news can come at any time, markets are closed.
- Technical Factors: Many positions are closed on Fridays (profit-taking, rebalancing), which often leads to a final push.
- ETF Inflows: SPDR Gold Shares (GLD) and other ETFs frequently see net buying on Fridays – institutional demand.
Gold is currently trading at around 5,020–5,030 USD and has reclaimed the 5,000 USD mark. Technically, the 5,050–5,100 USD area is the next resistance, with support in the 4,950–5,000 USD range.
Today's Drivers & Outlook
Today there are no major US data releases (thin volumes until Monday), Fed hawkishness is priced in, and the Iran crisis shows no new escalation. Nevertheless, gold remains stable – the Friday dynamic could push the price slightly higher:
- Support levels hold → technical bounce
- Light ETF buying on Fridays → institutional demand
- Geopolitical premium remains → weekend risk
If the price closes above 5,050 USD today, it could rise further on Monday. An escalation of the Iran crisis over the weekend could also boost the price. A break below 4,950 USD would jeopardize the uptrend.
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