GOLD
Gold is trading in an upward trend on the medium-term outlook, which opens the door for price increases and the formation of new highs. However, if the support level at $4370 is broken to the downside, we may target the $4275 level during today’s trading.
|
Support |
4370 | 4275 |
| Resistance | 4500 |
4800 |
The gold market saw a notable rise today, with prices increasing by 1.4%, reaching a new record high of $4,403.60 per ounce. This increase reflects the continued demand for safe haven assets amid geopolitical and economic tensions.
The upward trend in gold prices indicates growing demand from investors seeking to protect their wealth as the global economy faces slowing growth. Political tensions in various regions also contribute to gold’s appeal as a safe haven.
Expectations have risen for a potential interest rate cut by the U.S. Federal Reserve in 2026, further enhancing gold’s appeal. This technical factor increases the likelihood of continued upward momentum, as gold remains a strong investment tool in an environment marked by economic uncertainty.
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