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Gold Hits Its Highest Level in 4 Months

Technical Analysis
By Mostafa Mahmoud
Gold Hits Its Highest Level in 4 Months
0 6

GOLD

الذهب 1-9-2025

Gold is trading below the resistance level of $3,500, and this zone is likely to limit the pace of the upward movement during today’s trading.

Support

 3430 3375 3305
Resistance 3500 3550

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Gold prices recorded a notable rise today, extending the strong gains that began last week, with the yellow metal touching levels near $3,480 per ounce, its highest in more than four months. This rally was driven by growing market bets on a U.S. Federal Reserve rate cut at the September meeting, with odds exceeding 90% for a 25-basis-point reduction, boosting demand for gold as a non-yielding asset. In addition, concerns over the future of U.S. tariffs on Chinese imports have further supported safe-haven flows into gold.

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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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