Forex Analysis by Investing.com (Günay Caymaz) covering: XAU/USD, US Dollar Index Futures, Gold Futures. Read Investing.com (Günay Caymaz)'s latest article on Investing.com
With tensions escalating between Iran and Israel, traders closely monitored Iran's response over the weekend, affecting assets like gold and the US dollar.
Testing the upper boundary of the upward trend on the daily chart, the DXY also held firm against the 0.786 Fibonacci resistance level in line with the trend observed since 2024. If this range is broken, the market could see it as a shift in trend. This might lead to a pullback toward 103 levels.Gold reached a new all-time high of $2,431 on Friday. However, by the end of the week, sales during US trading hours caused gold to close at $2,343, marking a loss of over 1%.
Nonetheless, concerns over geopolitical risks, which are given more importance, continue to support gold's upward trend as a safe-haven asset.When the Iranian attack started, PAXG shot up to $3,295. This suggests how much demand for gold could rise if the attack happened when markets were open. Investors might see dips in the rising gold price as chances to buy, even though gold has gone up by almost 14% since the year began.
While a drop to $2,260 is possible if there's a big change, it's not very likely considering how things are now. This makes it more probable that gold will keep going up if it stays above $2,325.Institutions and billionaire investors worldwide are already well ahead of the game when it comes to AI-powered investing, extensively using, customizing, and developing it to bulk up their returns and minimize losses.
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