Kicking off the trading week, gold prices have rebounded sharply, opening at $2,361 per ounce—a $17 increase from last week's close. This uptick is largely influenced by the escalating geopolitical tensions in the Middle East, boosting demand for gold as a safe-haven asset.
Technical charts show that gold remains robust, consistently trading above the EMA 34 and 89 lines. The $2,330 support level is solidly underpinning the current upward trend, with the next support pegged at $2,305.