Gold prices surged in today's trading session, with spot gold climbing over 1% and reaching a high of $4,493.40 per ounce, marking a strong rebound and signaling renewed bullish momentum in the precious metals market.
What’s Driving the Rally?
The rally is fueled by a combination of macroeconomic factors. Escalating geopolitical tensions have boosted safe-haven demand, while a weakening U.S. dollar has made dollar-denominated gold more attractive to international buyers. Additionally, renewed inflation concerns are supporting investor appetite for non-yielding assets.
- Geopolitical risks lifting safe-haven demand
- Declining dollar enhances gold appeal
- Inflation outlook gains traction
- Technical breakout triggers fresh buying
What’s Next for Gold?
Technically, gold has cleared key resistance levels. A sustained move above $4,500 could pave the way for further gains. Market attention now turns to central bank policy cues, with any dovish shift in tone potentially extending the upward trend.