At the beginning of October, gold prices surged amid a renewed escalation of the conflict between Israel and Palestine. Investors have rushed to inves
t in this safe-haven asset, causing gold to rise by almost 4.5% on the previous week. According to market analysis, gold may benefit if the conflict escalates regionally, leading to oil supply disruptions. The yellow metal serves as a protective asset and thrives during periods of instability. Investors use it as a hedge to weather market fluctuations. Analysts suggest the current conflict negatively affects market sentiments, further driving investors toward the precious metal.
timeframe Last week, XAUUSD broke the global resistance trendline with a strong impulse. In the H4 timeframe, the price retested the breakout and reached the resistance area around 1948.00. If buyers push XAUUSD above this area, gold may reach 1952.00. Otherwise, a correction with targets at 1930.00 and 1907.00 may happen. Summary Learning global trends is an essential thing for every trader.
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