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Gold is close to achieving new historical highs

Technical Analysis
By Mostafa Mahmoud
Gold is close to achieving new historical highs
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GOLD

الذهب 22-1-2025

Gold is trading above the support zone of $2,740, and prices are likely to resume the upward movement targeting the resistance level of $2,785. This scenario becomes invalid if the aforementioned support level is broken to the downside.

Support

 2740 2720 2685
Resistance 2785 –

–

Gold prices witnessed a significant rise today, reaching $2,763.14 per ounce. This surge is attributed to several factors, including ongoing geopolitical tensions, particularly in regions such as Ukraine and the Middle East, which are driving investors to seek gold as a safe haven.

Additionally, financial institutions like Goldman Sachs predict that gold prices could reach $3,000 per ounce by the end of 2025, supported by potential interest rate cuts and continued economic uncertainty.

Based on this data, investors are advised to closely monitor economic and geopolitical developments and consider gold as part of their hedging strategies and diversified investment portfolios.

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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