Spot gold continued its rise yesterday, gaining 3% to close at the level of 3176. This morning also opened with buying momentum, with gold recording its highest historical level at 3220. The decision to delay tariffs, its failure to curb the rise in U.S. bond yields, and the decline in the Dollar Index (DXY) to 100.5 are seen as supportive factors behind gold’s rally. Amid continued high uncertainty, gold continues to benefit from safe-haven demand.
From a technical perspective, the levels of 3200 and 3150 are considered successive support levels, while the 3260 zone is a key resistance level to watch.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.