XAUUSD

Retail sales in the U.S. and the NY Fed Empire State manufacturing index falling short of expectations are raising recession concerns. Meanwhile, as the conflict between the U.S. and Houthi rebels in Yemen escalates, Trump's association of the Houthis with Iran and Israel's attacks on Gaza are increasing the perception of geopolitical risks. This situation is paving the way for gold prices to reach record levels.

The precious metal is currently priced above levels supported by indicators we are monitoring in the short term. As long as gold remains above the 2985 – 2993 range, it can sustain its upward trend. If positive movements continue, an increase toward the 3025 and 3035 levels may occur. However, if persistent pricing below the 2985 – 2993 range is seen, levels around 2975 and 2965 may come into play.