Gold Daily | Gold Stabilizes Near Record Highs Amid Fed Easing and Middle East Tensions

【Latest Gold Price and Recent Trends】

Gold prices stabilized around $2,627 after a recent surge to a record high of $2,639.96, driven by dovish Fed comments and Middle East tensions. Analysts anticipate further upsides.

【Technical Analysis】

Gold's daily chart shows continued upward movement, lacking bearish catalysts post-Fed decision. Key support is near $2,595. Short-term, a bullish trend may persist above $2,632, with resistance at $2,645 and $2,653.75.

【Market Sentiment and Economic Background】

Dovish Fed sentiment and anticipated rate cuts have bolstered gold. Middle East tensions, particularly Israel's actions against Hezbollah, have heightened risk aversion, supporting gold as a safe haven. Analysts predict possible price targets up to $3,000/oz due to geopolitical and economic uncertainties.

【Analyst Opinions】

Analysts suggest that the Fed's actions, coupled with geopolitical instability, are creating a favorable environment for gold. The market anticipates continued Fed easing, and investors are increasingly viewing gold as a hedge against inflation and a weakening dollar.