Gold "explodes," setting a new historical peak!

i förrgårHello everyone! It’s me again, Alisa. Let’s dive into today’s gold prices together!

Just as I predicted yesterday, gold has surpassed the $2,600 mark, setting a new historical high. This precious metal has surged over 35/ounce compared to the previous session’s close, equating to a 1.37% increase. Tensions in the Middle East and investors’ bets that the Fed will continue lowering interest rates have fueled this rise in gold prices.

Looking at the chart, we can see the gold price channel is sloping upwards at a significant angle, indicating that the upward momentum remains strong. With support hovering around $2,577 and stability in the EMA 34 and 89 lines, gold is likely to continue climbing.

And you, what are your thoughts on XAU/USD today?