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Is gold on the verge of a new all-time high?

Technical Analysis
By Mostafa Mahmoud
Is gold on the verge of a new all-time high?
0 3

GOLD

الذهب 5-3-2025

Gold is trading above the support level of $2,890, and prices are likely to retest the resistance level of $2,955. However, this scenario would be invalidated if the mentioned support level is broken to the downside.

Support

 2890 2835 2780
Resistance 2955 3000

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Gold prices witnessed a significant rise today, supported by the decline of the US dollar and increased demand for safe-haven assets amid escalating economic concerns. In global markets, gold recorded a 0.6% increase, reaching $2,920 per ounce, its highest level of the week, with expectations of further gains if inflationary pressures and expansionary monetary policies persist.

The growing buying momentum reflects investors’ desire to hedge against economic fluctuations, and the upward trend in gold is expected to continue if economic and geopolitical tensions persist.

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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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