Gold makes new all time high, breaks $3,000 per ounce

As geopolitical tensions and concerns over global economic instability intensify, gold has stepped in to shine.

Gold (XAUUSD) has once again surged to new all time highs, breaking $3,000 per ounce. This marks a significant milestone for the precious metal, reinforcing it's reputation as the ultimate safe-haven asset.

Gold makes new all time high

Past performance is not a reliable indicator for future performance.

The recent rise in gold prices is largely attributed to unease surrounding tariffs and trade posturing by the Trump administration. Fears of a global economic slowdown have been pushing investors towards the relative safety of gold.

Furthermore, anticipation of multiple interest rate cuts by the Federal Reserve in 2025 are also bolstering the allure of the non-yielding asset. The journey of gold prices is not without its hurdles, a modest uptick in the US Dollar and improvements in global risk sentiment have contributed to tempering the pace of gains.

Will the bullish momentum continue?

From a technical standpoint, gold's recent breakthrough above the $2,930 resistance area signals a bullish momentum, with an eye towards sustaining the established uptrend. However, the Relative Strength Index (RSI) is in overbought territory on the weekly and monthly timeframes, and performance is outpacing the rate of inflation.

While short to medium term corrections are possible, the fundamental indicators point towards a sustained demand for gold as a hedge against potential economic turbulence and inflationary pressures.

As the geopolitical and economic landscape evolves, traders and investors should remain vigilant to shifts in economic policy and central bank actions worldwide.

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