Gold Strikes New Record High: More Upside Ahead?

Gold has risen to a historical record-breaking high, surpassing the significant $2075 benchmark (Figure 1). This was driven by several technical factors.


From a technical perspective, maintaining a position above the $2075 threshold is pivotal. This price point serves as a critical resistance level, reflecting robust market confidence in gold as an investment.


According to analysts, gold's ability to maintain its price beyond this threshold could signal a bullish breakout. Such a trend would not only confirm the strength of the current rally but also open the door for gold prices to potentially climb higher. If this scenario unfolds, analysts expect gold to establish new historical records, further solidifying its position as a critical asset in the global financial landscape.


Figure 1: XAUUSD, Weekly Time-Frame, MetaTrader 5


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