Update the latest gold prices. Long-term analysis

Hello everyone, Alselv here. Today, Gold continues to maintain its upward trend. It is currently trading at $1863, a 0.12% increase for the day. This stable rise aligns with the predictions made yesterday.

The bloody conflict in the Middle East over the past weekend led to Israeli Prime Minister Benjamin Netanyahu declaring that the country is at war following a major attack by the Hamas group from Palestine. This situation has fueled risk aversion and increased demand for safe-haven assets like precious metals, which has pushed up the price of gold today. The closure of the US and Canadian markets for Columbus Day has not impacted the price of gold as the USD strengthens.

Due to these factors, gold buyers continue to push the price higher, and gold is currently at $1864, with an expected increase to $1928. This upward trend will persist until any significant developments occur.

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With investors looking for safe havens, gold has benefited, at least in the short term, from rising geopolitical tensions.

Trade ativo

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The conflict in the Middle East occurs at a time when markets are volatile and global bond yields are at multi-year highs. We need to wait for US inflation data, expected to be announced this week.

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