Gold Price News: Slight increase driven by market volatility

In the afternoon of today's trading, the gold price stood at USD 2,656, a slight increase compared to last Friday. After the market had already recovered at the end of last week, the gold price remains stable, driven by continued high demand for safe investments due to global uncertainties. Investors continue to monitor geopolitical risks and upcoming economic data from the US, which could further influence the market.

Uncertainties in the Middle East continue to drive demand for gold. In particular, the ongoing conflict between Israel and Iran influences market sentiment. There are no signs of a de-escalation, which keeps gold attractive as a safe haven. In parallel, the conflict in Ukraine remains a key risk factor influencing commodity markets and investors alike.

The gold price is currently testing the resistance at $2,687, while experiencing strong support at $2,633. If the price rises above $2,687, this could trigger a short-term bullish movement that could push the price above the $2,700 mark. However, a breach of the support could lead to a short-term consolidation.

Analysts predict that the gold price will remain volatile in the coming days. Geopolitical tensions and uncertainties surrounding the Federal Reserve's interest rate policy remain decisive factors. Should there be further escalations in the Middle East or weaker economic data from the US, the price of gold could rise further. The USD 2,700 mark remains a short-term target that could be reached.