Gold is extending its rally for a third consecutive session, trading closer to the $4,200 mark as easing geopolitical tensions around the Strait of Hormuz improve overall market sentiment.


Falling oil prices have reduced inflation concerns, leading traders to scale back expectations of a near-term Fed rate hike. The market's focus now shifts to today's US ADP employment data, which could influence the next major move in gold.


At the same time, continued inflows into gold-backed ETFs in China suggest institutional investors remain confident in bullion, especially while prices hold above the key $4,000 support level.

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