Gold targets the level of $ 3,200 an ounce after its strong bullish #Urgent
Gold climbing up to the highest weekly level
The precious metal continues to circulate over the moving average for twenty days at 3055 dollars, which confirms the continued positive momentum, and puts gold at the highest weekly level for three weeks.
A quick recovery that enhances optimism in gold
This relatively rapid rise is an indication of the return of optimistic investors to control and pushing gold towards a clear upward trend.
Although the last height came after a slight decline, it is a positive indication in the short term. But some analysts believe that gold may witness a limited decline before trying to penetrate its highest historical level at 3168 dollars.
Also read: Best performance for 6 months .. Gold prices increase by more than 2%
Important support levels that are recommended to monitor both moving averages for twenty days, and the highest price on Tuesday, was $ 3023.
Gold targets $ 3200
If gold approaches again from its highest historical level, it may be able to overcome it to 3177 dollars, and if this barrier is penetrated, the road will be paving about $ 3,200 an ounce.
What are the reasons for the rise in gold prices?
Tim Water, chief market analyst at KCM Trade.
He added: “Despite some fluctuations, the gold is still on the right track to achieve new record levels, especially in light of the ambiguity surrounding global growth and inflation.”
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On the other hand, the increases of the gains of US Treasury bonds have reduced the 10 -year -old to the highest level in more than a month.
Some analysts also saw that gold benefited from the increasing disturbances in the stock markets, which strengthened its attractiveness as a safe haven.
Gold boxes record standard flows
The data of the World Gold Council showed that gold -backed indirect indicators recorded the largest quarterly flow in three years, during the period from January to March 2025, which reflects the escalation of institutional demand for the metal.
American federal position
“The Federal Reserve is likely to stick to the same orientations in light of the stability of inflation rates and the presence of risks to economic growth,” said Kelvin Wong, a market analyst in “Uanda”.
In the same context, Bart Melik, head of the basic commodity strategies at TD CIA, said:
“We are in a position where customs duties are a source of great concern, and there is a rise in inflation expectations, which appears through the rise of returns.”
He added: “Due to the continued trade tensions, investors are likely to bet on the decline in the US dollar’s dominance in global trade in the long run.”
Dollar and gold
The dollar index decreased by 1% against a basket of major currencies, which strengthened the attractiveness of gold for other currencies, at a time when economic doubts and geopolitical risks are increasing.
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