GOLD - Gold selling strategy

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Gold price on Kitco closed last week's trading session at 1,992 USD/ounce.

Investors' worries about the Israel-Hamas conflict still exist, but that cannot help gold prices surpass the threshold of 2,000 USD/ounce. It is because the gold price cannot surpass this important threshold that has caused market psychology to become cautious.

Some analysts believe that gold prices are being hindered by the price level of 2,000 USD/ounce. If gold prices are consolidated in the near future, the precious metal price may soar to a new all-time high.

Commodity analysts say that geopolitical factors are having a major impact on gold and that as concerns subside, the precious metal's safe-haven appeal will be reduced.

According to Tastylive.com expert Christopher Vecchio, safe haven purchasing power thanks to the geopolitical crisis is being depleted. While geopolitical conflict can provide trading impetus for gold, it does not have a long-term effect.