Today, gold continued to impress, surpassing the $2,300 mark, a significant achievement even as the US dollar and bond yields both increased pressure. The shortage of gold supply, thanks to central banks around the world actively stockpiling and strong interest from hedge funds, has pushed gold prices to new highs.
From a technical perspective, gold continues to show outstanding strength, stabilizing above the EMA 34 and 89 and showing an upward trend in price over many time frames. Based on this solid support and technical analysis, gold is forecast to continue rising, with the next target being the Fibonacci level of 2460 USD. For those investing in gold, this promising adventure is just beginning.