Gold prices extended their rally into a fourth consecutive session, trading above the critical $2,660 level amid heightened geopolitical risks and market uncertainties. As the Russia-Ukraine conflict deepens and economic policy signals evolve, today’s report delves into critical levels and actionable insights to guide UAE investors in the dynamic bullion markets.
Gold continues to strengthen, reaching a one-and-a-half-week high driven by safe-haven demand. Key resistance stands at $2,684, with further upside targets at $2,705 and $2,733. A failure to close above $2,660 could expose gold to a pullback toward the $2,600 level. The Stochastic Oscillator and RSI both read 50, indicating a neutral momentum with potential for further gains.
Silver continues to track gold’s momentum, holding steady above $31.00. Resistance at $31.56 and $31.88 will be pivotal, with $32.00 marking the next significant target. Support levels at $31.00 and $30.60 provide a strong base for further upward movement. The Stochastic Oscillator is at 42, and the RSI is at 48, signaling moderate bullish potential.
Gold’s rally above $2,660 showcases its resilience amid geopolitical tensions, with $2,684 and $2,705 marking critical resistance levels for further gains. Silver’s stability above $31.00 supports its upward trajectory, with $31.88 and $32.00 as key targets. UAE investors are encouraged to remain vigilant, leveraging these insights to navigate opportunities in the ever-evolving bullion markets.