Meanwhile, gold broke the $2,700 barrier for the first time on Friday, fueled by demand for safe-haven assets amid geopolitical tensions. Hezbollah’s escalating conflict with Israel and rising instability in the Middle East have increased investor risk aversion, driving gold’s rally. Additionally, traders are speculating on further monetary policy easing by major central banks, further supporting the metal’s upward momentum.
Gold’s more than 31% gain this year reflects broader concerns about global market instability and the appeal of safe-haven assets. Analysts expect potential resistance at $2,750, with gold already benefiting from strong speculative interest.
Market Forecast
In the short term, the U.S. dollar may continue to face pressure, particularly if it fails to hold support levels near the 103.144 pivot. However, strong U.S. data and market speculation surrounding Trump’s policies could support further gains. Traders should watch for the euro to test new lows, while gold may continue its uptrend driven by geopolitical risks.