Gold Price on October 30, 2024: Reaching a New Record

أول أمس

As I predicted yesterday, gold prices have reversed and surged sharply. This increase is driven by concerns surrounding the U.S. election, tensions in the Middle East, and expectations that the Federal Reserve (Fed) will cut interest rates in November. All these factors have propelled gold to an all-time high. Furthermore, the intensifying competition between Donald Trump and Kamala Harris ahead of the November 5 election has also contributed to this upward momentum.

Examining the technical chart, gold is trading around 2,778, up by 0.1%. In an upward price channel, gold is gaining momentum, moving towards new targets. If this trend continues, gold may conquer the next resistance levels, with the 2,800 mark within sight. Technical indicators like the RSI and MACD are also showing strong buy signals, further strengthening the positive outlook for this precious metal.

Does anyone else share my prediction? If you have more solid insights, feel free to comment and let me know!