Sell strategy, after retesting resistance will increase again
Gold prices rose at the start of the week, the metal's appeal fueled by safe-haven demand due to tensions in the Middle East, while markets bet the US Federal Reserve (Fed) will cut interest rates soon. than expected.
The war between Israel and Hamas has passed the 100-day mark as Israel continues its fierce offensive, while the Houthi militia's threat to respond to US airstrikes in Yemen raises risks.
Gold tends to perform well during times of economic uncertainty, with its reliability able to help offset the risks of more volatile assets in conditions such as geopolitical instability.
“Spot gold is also rising as the market clings to hopes that the Fed will cut key interest rates as early as March,” said Han Tan, chief market analyst at Exinity Group.
Gold's chances of reaching a new record high will remain open as long as the Fed can act in line with market expectations
The war between Israel and Hamas has passed the 100-day mark as Israel continues its fierce offensive, while the Houthi militia's threat to respond to US airstrikes in Yemen raises risks.
Gold tends to perform well during times of economic uncertainty, with its reliability able to help offset the risks of more volatile assets in conditions such as geopolitical instability.
“Spot gold is also rising as the market clings to hopes that the Fed will cut key interest rates as early as March,” said Han Tan, chief market analyst at Exinity Group.
Gold's chances of reaching a new record high will remain open as long as the Fed can act in line with market expectations
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