Geopolitical instability: Gold continues to maintain strong growA new week has begun! Let's join Alisa in analyzing the information related to gold prices today.
In the past few days, following the U.S. Federal Reserve's (Fed) interest rate cut, global gold prices have continuously set new records. Furthermore, supported by the weakening U.S. dollar and escalating geopolitical tensions in the Middle East, gold has maintained its upward trend.
Looking at the chart, Alisa sees that the EMA 34 and 89 lines are running steadily, and the price remains within the price channel with signs of further increase. With this trend, even if the price drops, I believe that with support at 2,586, gold will bounce back.
Although the precious metal remains in a strong uptrend, investors should carefully monitor profit-taking signals and short-term reversals to prepare in a timely manner.
