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Gold Continues Its Historic Surge

Technical Analysis
By Mostafa Mahmoud
Gold Continues Its Historic Surge
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GOLD

الذهب 11-2-2025

Gold is trading in an upward trend in the medium term, opening the door for new highs. However, if the support level of $2,900 is broken to the downside, prices are likely to target the $2,850 level.

Support

 2900 2850 2810
Resistance 2940 3000

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Gold prices witnessed a significant rise today, with the ounce reaching a new historical level of $2,908.

From a technical perspective, gold managed to break through the resistance zone between $2,870 and $2,880 per ounce, which had been a barrier to its rise over the past week. This breakout indicates strong upward momentum, which could push prices to higher levels in the coming period.

Globally, concerns persist in financial markets due to new decisions by U.S. President Donald Trump to increase tariffs, raising fears of a new trade war. These developments enhance gold’s appeal as a safe-haven asset for investors, supporting its upward trend.

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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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