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Demand for safe haven (gold) is increasing

Technical Analysis
By Mostafa Mahmoud
Demand for safe haven (gold) is increasing
0 8

GOLD

الذهب 18-3-2025

Gold is trading in an upward trend on the medium-term, and prices are likely to resume the trend and reach new highs. This scenario will be invalidated if the support level of $2985 is broken to the downside in today’s trading.

Support

 2985 2955 2955
Resistance 3050 3100

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Gold prices saw a significant rise today, both globally and locally, driven by economic uncertainty caused by the tariff policies announced by U.S. President Donald Trump.

Globally, gold prices surpassed the $3,000 per ounce mark for the second time this week, reaching $3,006.88 per ounce, a 0.2% increase from the previous day.

This rise reflects the growing demand for gold as a safe-haven asset amidst current trade and political tensions, reinforcing its position as a hedge against economic and geopolitical risks.

You can now benefit from LDN company’s services through the LDN Global Markets trading platform.

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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