Today, we continue to see a positive trend for gold as it continues to move upwards after receiving favorable news from the market yesterday. The price has made a new breakthrough, jumping from $1913 to $1938 in early trading today.
From the observation of the chart, we can see that gold has broken the downward trend with a breakthrough at $1913. With the tense situation in the Middle East, gold is still seen as a safe haven by investors. Therefore, the target for further price increase is strengthened, aiming for two important long-term levels at $1980 and $2050, as shown in the chart above.
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Currently, investors are quite cautious. The conflict in the Middle East may not settle down, but there is also the possibility of surprises that shake markets in the next days and weeks.