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Gold is approaching its highest level in a month

Technical Analysis
By Shady Fouad
Gold is approaching its highest level in a month
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GOLD

الذهب 16-1-2025

Gold has broken above the $2,690 level, making it likely for prices to rise and retest the $2,720 resistance zone. This scenario would be invalidated if the $2,690 support zone is broken to the downside.

Support

 2690 2660 2615
Resistance 2720 2745

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Gold showed a notable upward movement, reflecting increased investor interest and market dynamics that favor safe-haven assets. This rise can be attributed to a combination of geopolitical tensions, inflationary pressures, and a weaker U.S. dollar, which drives demand for gold.

From a technical perspective, gold has broken through key resistance levels, indicating bullish momentum that may pave the way for further gains. Analysts are closely monitoring the next resistance level around $2,720 per ounce, while support is seen near $2,690.

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Shady Fouad

Shady Fouad is a technical analyst at LDN Company
Shady's strategic vision in the currency markets is reinforced by more than fifteen years of trading experience, which enables him to blend economic and technical analyzes with high efficiency, and find the best investment ideas for traders.

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