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