Cannot fetch data from server.

Gold prices fall amid signs of easing tensions in the Middle East

Technical Analysis
By Mostafa Mahmoud
Gold prices fall amid signs of easing tensions in the Middle East
0 19

GOLD

الذهب

Gold is trading near the first support level at $2650. Prices are likely to move sideways during today’s trading within the range between the aforementioned support level and the resistance level at $2690.

Support

 2650 2600 –
Resistance 2690 2750

–

Gold prices experienced a significant decline in yesterday’s session, with the price of an ounce dropping to approximately $2,721, marking a decrease of 0.85%. This decline follows record gains previously achieved by the precious metal, with the price of an ounce reaching $2,452.69 in earlier trades.

From a technical perspective, gold is encountering strong resistance at the $2,720 per ounce level, as it has been unable to sustain above this level for an extended period. This indicates a likelihood of continued price volatility in the short term, especially with markets being influenced by geopolitical factors and changes in central bank policies.

Gold is expected to remain within a specific trading range between $2,700 and $2,750 per ounce in the coming days, as investors closely monitor any developments that may impact risk appetite and market trends.

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.

You might also like More from author
Leave A Reply

Your email address will not be published.

[email protected]
REACH OUT TO US
Privacy Policy | AML Policy | Terms & Conditions | Security Of Funds | Risk Disclosure
Licensing and Regulation: LDN GLOBAL MARKETS LLC is an officially licensed broker holding an International Brokerage License in Saint Vincent and the Grenadines, numbered 1547 LLC. The registered address is Richmond Hill Rd, Kingstown, St. Vincent and the Grenadines, VC0100. Additionally, LDN GLOBAL MARKETS LLC is registered with license number T2023240 on Bonovo Road in Fomboni, Island of Mohéli, Comoros Union.
Licensing and Regulation: LDN GLOBAL MARKETS LLC is a fully licensed broker holding an International Brokerage License in Saint Vincent and the Grenadines, numbered 1547 LLC. The registered address is Richmond Hill Rd, Kingstown, St. Vincent and the Grenadines, VC0100.
Other entity within the group: LDNGM FINTECH SERVICES LTD (registration No. HE 432187, registered at Spyrou Kyprianou & Ayias Fylaxeos 182, Kofteros Business Center, Floor 2, Flat 201, 3083) provide content and perform operational management of the business.
Risk Warning : Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading in contracts for the difference carries a high level of risk, as trading on margin can be to your advantage or disadvantage. As a result, CFDs may not be suitable for all investors as you may lose all your invested capital. You should not risk more than you can lose. Please ensure that you fully understand the risks involved in this trade, and seek independent advice if necessary before entering into such transactions. Please read the risk disclosure statement on this website
LDN GLOBAL MARKETS is committed to the highest standards of the Anti-Money Laundering (AML) compliance and Counter-Terrorism Financing (CTF). To help the governments first and the financial services industry fight the funding of terrorism and money laundering activities, law requires all financial institutions to obtain, verify, and record information that identifies each person opening an account. Since LDN Global Markets is not under the supervision of ESMA, it is not involved with any acts considered to be offering financial products and solicitation for financial services to the European Union countries and this website is not aimed at residents in the European Union countries.
Restricted Regions : LDN Global Markets does not provide its services to citizens and residents of certain jurisdictions such as United States of America, United Kingdom, Canada, Japan, EU countries, Iran, Israel and North Korea.
Copyright ©2015 – 2024 LDN Global Markets all rights reserved.