Global gold prices have witnessed a significant price increase due to ongoing tensions in the Middle East, despite positive economic data from the US. The escalation of tensions, with Israel expressing its intention to respond to attacks from Iran, has ignored calls for restraint from the West.
In this context, with the continued increase in geopolitical instability, gold prices are likely to continue to rise towards the $2,500 mark. The precious metal is currently moving towards the 1.618 Fibonacci price level, an important profit-taking point, in line with Dow Theory predictions.
In this context, with the continued increase in geopolitical instability, gold prices are likely to continue to rise towards the $2,500 mark. The precious metal is currently moving towards the 1.618 Fibonacci price level, an important profit-taking point, in line with Dow Theory predictions.
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