Gold analysis and News

Reasons why gold prices shoot up :
- Geopolitical tensions boosted safe-haven assets like gold.
- US President Biden authorized Ukraine to use US-supplied long-range missiles to strike deeper into Russia.
- Russia deployed North Korean troops to reinforce its forces.
- A Russian missile attack on a nine-story building in Sumy, Ukraine, killed at least 8 people.
- Russia launched massive missile and drone attacks on Ukrainian energy infrastructure.
- Israeli forces killed at least 111 Palestinians in Gaza on Saturday.
- Israel continued military operations in Lebanon after the assassination of Hezbollah’s top media officer, Mohammad Af.
What's expecting in gold now :
1. Gold has tested $2596 and then dropped to $2580
2. If gold manages to break today's high $2596 and sustained above $2601 level then we can expect gold to be in bullish territory and target will be $2620-25
3. If gold take a correction up to 20-DMA at $2574 and sustained there , then it can re-test $2560 level
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