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A historic surge in gold prices

Technical Analysis
By Mostafa Mahmoud
A historic surge in gold prices
0 5

GOLD

الذهب 6-10-2025

Gold is trading in a medium-term uptrend, which opens the door for prices to rise and form new highs. However, if the support level at $3,890 is broken to the downside, prices may target the $3,820 level during today’s session.

Support

 3890 3820 3705
Resistance 3945 4000

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Gold witnessed a strong rally today, surpassing the $3,900 per ounce mark to record a new all-time high, as investors flocked to safe-haven assets amid heightened global financial uncertainty. This surge was supported by growing expectations that the U.S. Federal Reserve will move to cut interest rates in the coming period a move that lowers returns on traditional assets and boosts gold’s appeal as a hedge against inflation and currency weakness. Additionally, the decline in the U.S. dollar further fueled global demand for the precious metal, making it more attractive to holders of other currencies.

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Mostafa Mahmoud

Mostafa Mahmoud Technical Analyst at LDN Mostafa has half a decade of experience in the field of financial markets between technical analysis and financial portfolio management, which extends to more than one financial market between stocks, commodities, currencies and the debt markets.

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