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A slight increase in gold prices

Technical Analysis
By Shady Fouad
A slight increase in gold prices
0 1

GOLD

ذهب 23-12-2024

Gold is trading above the $2,615 support zone and is likely to rise, targeting the $2,660 resistance zone. This scenario would be invalidated if the aforementioned support zone is broken to the downside.

Support

 2615 2585 2540
Resistance 2660 2685

2710

Gold prices witnessed a significant rise, attributed to several factors, most notably the escalating geopolitical tensions, which drove investors toward safe-haven assets like gold. Additionally, expectations of more accommodative monetary policies by major central banks, including the U.S. Federal Reserve, have enhanced gold’s appeal as a safe haven. Despite the rise in the U.S. dollar and Treasury yields, gold continued to achieve gains, reflecting strong demand amid the current economic and political conditions.

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Shady Fouad

Shady Fouad is a technical analyst at LDN Company
Shady's strategic vision in the currency markets is reinforced by more than fifteen years of trading experience, which enables him to blend economic and technical analyzes with high efficiency, and find the best investment ideas for traders.

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