🔖XAU/USD, H4🔖 9 April 2024
Gold prices maintained resilience amid escalating tensions in the Middle East and stalled ceasefire negotiations. Heightened demand for the safe-haven asset persisted as geopolitical risks intensified. Market volatility is expected to remain elevated in anticipation of the US inflation report, potentially further bolstering demand for gold. Investors are advised to closely monitor developments in US inflation data for additional trading signals amidst ongoing geopolitical uncertainties.
Gold prices are trading higher following the prior breakout above the previous resistance level.
Resistance level: 2350.00, 2370.00📉
Support level: 2335.00, 2320.00📈
Gold prices maintained resilience amid escalating tensions in the Middle East and stalled ceasefire negotiations. Heightened demand for the safe-haven asset persisted as geopolitical risks intensified. Market volatility is expected to remain elevated in anticipation of the US inflation report, potentially further bolstering demand for gold. Investors are advised to closely monitor developments in US inflation data for additional trading signals amidst ongoing geopolitical uncertainties.
Gold prices are trading higher following the prior breakout above the previous resistance level.
Resistance level: 2350.00, 2370.00📉
Support level: 2335.00, 2320.00📈