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As expected, gold prices rose to around $2,425 an ounce during trading on Wednesday, paring earlier losses driven by safe-haven demand amid fears of an escalation in the Middle East conflict.
I continue to focus on the $2,400 level as it was a major area of noise in the past.
Gold price has surpassed the psychological resistance of $2400 per ounce at the beginning of this week's trading, continuing its gains from the previous session
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By the end of last week's trading, the price of gold rose to $2,390 per ounce before closing at $2,388 per ounce.
I see that we are approaching the crucial $2,400 level.
Gold prices failed to sustain their upward momentum yesterday, unable to breach the resistance level of $2432 per ounce.
Gold prices are in a rebound mode this week, gaining above the $2419 resistance level and recovering from last week's losses that took the price down to the $2384 support level.
At the beginning of this week’s trading, the gold price attempted to rebound upwards due to US political concerns.
Gold futures fell below $2,400 per ounce, ending the trading week as traders took profits ahead of the weekend.
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Gold hit a new all-time high as it moved towards the $2,483 resistance level per ounce, with gains driven by growing optimism that the Federal Reserve will cut US interest rates as early as September.
Gold prices have hit a record high as hopes for U.S. interest rate cuts grow and some traders intensify their bets on a second term for Donald Trump.
For four consecutive trading sessions, the price of gold has been in an upward rebound.
Gold prices are holding near record levels with growing optimism about interest rate cuts from the U.S. Federal Reserve.
I have noticed that the $2,400 level continues to see a lot of interest paid attention to it.
Gold futures were little changed ahead of two crucial inflation reports later this week.