Gold prices surged to $2,858 per ounce, driven by investor flight to safe-haven assets amid heightened trade tensions and U.S. tariffs on imports. This has shifted market sentiment towards gold, despite initial strength in the U.S. dollar index, which later retreated and rekindled buying interest. From a technical standpoint, gold is at a critical resistance level, testing recent highs. While profit-taking may occur, ongoing geopolitical and macroeconomic risks are likely to sustain gold prices at elevated levels, with potential for new record highs if uncertainties persist.
Gold prices surged to $2,858 per ounce due to market uncertainty, driven by trade tensions and tariffs affecting investor behavior.
Despite a brief strength in the U.S. dollar index, its recent retracement has renewed buying interest in gold as a safe-haven asset.
Heightened trade tensions, particularly with China, prompted investors to gravitate towards gold, indicating a significant shift toward safe-haven assets in uncertain times.
The technical outlook for gold shows it testing resistance above recent highs, suggesting profit-taking may occur but broader trends support elevated prices.
Collection
[
|
...
]