Gold Daily | Stable Gold Prices Amid Middle Eastern Tensions and Fed Anticipation, Future Decline Foreseen

【Latest Gold Price and Recent Trends】

International gold prices remain stable at $3,383.01, retreating from the intraday high of $3,403. Investors are evaluating the conflict between Israel and Iran while focusing on the upcoming Fed meeting.

【Technical Analysis】

The Relative Strength Index (RSI) at 57.50 supports a bullish bias, indicating gold is maintaining its upward trajectory. Key resistance at $3,440; breaking it could lead to $3,453, with potential challenges towards $3,500. However, if the price slips, support is expected at $3,377, with further support at $3,341 based on the 21-day SMA.

【Market Sentiment and Economic Background】

Investors are closely monitoring Middle Eastern tensions, especially the conflict between Israel and Iran, which is boosting demand for safe-haven assets like gold. The Fed's upcoming rate decision and Chairman Powell's speech are pivotal, with traders anticipating two rate cuts by year-end. Citi predicts gold prices may drop below $3,000 by 2025 due to reduced investment demand and improved global growth prospects. Despite recent gains due to geopolitical tensions and economic uncertainty, gold could face challenges as supportive factors weaken over time.

【Analyst Opinions】

Exinity Group’s Han Tan notes that gold remains a preferred safe-haven asset amid Middle Eastern conflict concerns. Citi analysts foresee a downturn in gold prices due to diminishing investment demand, with a potential decline to $2,500-$2,700 per ounce by the latter half of 2026. This outlook is influenced by expected shifts in monetary policy and the resolution of geopolitical tensions.