Gold Reaches New Heights Amid Geopolitical Tensions
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Gold prices continue to surge due to the impact of geopolitical tensions in the Middle East and expectations that the Federal Reserve will maintain a loose monetary policy to control inflation in the context of global economic instability.
After breaking through key resistance levels, the price has now reached 2,728 USD/oz and is approaching the next resistance target of 2,812 USD, as determined by the Fibonacci expansion tool.
Before climbing higher, a potential pullback to the support level around 2,767 USD may occur, providing an opportunity for further price growth.
The 34 and 89-period EMAs continue to play a crucial role in supporting the uptrend, indicating that the market's strength remains stable.
After breaking through key resistance levels, the price has now reached 2,728 USD/oz and is approaching the next resistance target of 2,812 USD, as determined by the Fibonacci expansion tool.
Before climbing higher, a potential pullback to the support level around 2,767 USD may occur, providing an opportunity for further price growth.
The 34 and 89-period EMAs continue to play a crucial role in supporting the uptrend, indicating that the market's strength remains stable.
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