Gold price consolidates the previous week’s gains above $2,500 at the start of the week on Monday.
Gold price holds recent gains above $2,500 early Monday amid the Mid-East escalation. The US Dollar nurses losses with US Treasury bond yields on dovish Fed outlook. Gold price looks to retest all-time highs as the daily technical setup favors buyers. Gold buyers catch a breather after recording the second consecutive weekly gain while reverting toward the all-time high of $2,532.
Adding further to the haven demand for the bright metal, Axios reported that Gaza talks will continue in the coming days through working groups to address issues and remaining details,” as ceasefire talks in Cairo conclude without any agreement. Amidst these favorable fundamental factors, Gold price remains exposed to upside risks, with the technical setup on the daily chart also leaning in favor of buyers.
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