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Gold is near new historic levels

Technical Analysis
By Mostafa Mahmoud
Gold is near new historic levels
0 0

GOLD

الذهب 19-2-2025

Gold is trading around the resistance level of $2940, and this area is likely to limit the pace of the upward movement during today’s trading.

Support

 2900 2850 2810
Resistance 2940 3000

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Gold prices witnessed a significant rise today in global markets, with the price of an ounce reaching $2,927.

This increase is attributed to several factors, most notably the growing demand for gold as a safe-haven asset amid global economic tensions, as well as the impact of tariffs imposed by the United States on certain imports, which have sparked economic concerns and driven investors toward gold.

Additionally, gold exchange-traded funds (ETFs), such as SPDR Gold Shares (GLD), have also experienced a rise in their prices, with the stock price reaching $270.7. This positive performance reflects investors’ confidence in gold as a hedge against economic fluctuations.

Overall, analysts expect this upward trend in gold prices to continue in the coming period, especially with the ongoing economic and political tensions.

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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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