Analyzing gold, interest rates are no longer really important

Gold increased mainly due to escalating tensions between Iran and Israel. Gold prices recorded the fifth consecutive week of increase. Israel's response came a week after Iran's drone and missile attacks on Israel pushed gold prices to a record high above 2,428

Recent statements from Fed officials suggest there is no rush to cut interest rates in the short term. This view is not only echoed by Federal Reserve Chairman Jerome Powell.
It is worth noting that the market focus has shifted slightly from Fed policy to geopolitical risks, influencing investor strategies and gold pricing.

Next week is a week of little economic data of note, as traders focus on March U.S. new home sales on Tuesday and March durable goods on Wednesday.On Thursday will release the first quarter U.S. GDP report, quarterly PCE data, weekly initial jobless claims and pending home sales data. The week's most notable data will appear on Thursday.

Gold is trading within the range of 2400 and 2365. Gold's slight increase is being supported by the 2380 trendline. When the first days of next week gold can trade above 2400, there is full potential to overcome resistance and create. new record. In the opposite case, important support levels such as 2365 and 2418 will help gold maintain stability within the rectangular border of the chart.

Support: 2,382, 2,365, 2305 USD
Resistance: 2,400, 2,417, 2,431 USD

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Gold broke the trend and retested the support zone at the lower border of the rectangle

Trade closed: target reached:

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Trade closed: target reached:

Gold is trading below the trendline zone

Trade closed: target reached:

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Trade closed: target reached:

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