Gold Prices Rise on Powell's Remarks Amid Middle East Tensions

At the end of Tuesday's US trading session, the price of gold rose higher by 0.22%, following Federal Reserve Chairman Jerome Powell's hawkish remarks. This provided a favorable momentum for gold's growth amid escalating political tensions between Iran and Israel.

Looking at the chart, it's evident that the price of gold is heading towards the target of 2,400 USD. Breaking through this threshold won't just mark a significant milestone but also present an opportunity for gold to surge further, with potential subsequent levels reaching 2,431 USD and 2,450 USD.