Today, on the last trading day of the week, gold prices increased sharply to nearly 35 USD, reaching a high of 2,418 USD before stabilizing at 2,410 USD at the time of reporting.
Gold's upside was sustained by a recovery from the 34-day moving average (EMA 34), with technical factors continuing to support the price. Many investors believe that gold is receiving strong support as a safe haven, because tensions are increasing in the Middle East. If the conflict continues to escalate, gold prices are likely to reach 2,500 USD in the near future.
Gold's upside was sustained by a recovery from the 34-day moving average (EMA 34), with technical factors continuing to support the price. Many investors believe that gold is receiving strong support as a safe haven, because tensions are increasing in the Middle East. If the conflict continues to escalate, gold prices are likely to reach 2,500 USD in the near future.
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