Can gold maintain its high price?

World gold prices tend to decrease with spot gold down 3.2 USD compared to last week's closing level to 2,340.7 USD/ounce.

The world gold market has just had an exciting week when records were continuously "broken". In particular, on Friday, gold prices fluctuated up to 98 USD. This price increase is second only to the price increase in December last year that pushed gold prices above 2,150 USD/ounce in a short time.

After December's rally, many analysts expect prices to test support around $1,950 an ounce as the precious metal remains weighed down by interest rate expectations. In fact, many investors missed the first breakthrough increase in March while waiting for a larger correction.

Comment:

This year, gold prices surpassed the psychological level of 2,000 USD/ounce and show no signs of slowing down. This impressive increase has forced financial institutions to adjust their outlook forecasts. The latest adjustment comes from giant Goldman Sachs with more positive future expectations.

Comment:

Comment:

✅ If XAUUSD closes above $2,400 per troy ounce, the price could rise to test the all-time high and potentially head towards $2,500 per troy ounce, the next potential resistance level.
✅ Conversely, XAUUSD could return to $2,300 per troy ounce if the price does not close above $2,400 per troy ounce.

Comment:

If XAUUSD continues to rise, the price could retest the resistance at $2,400 per troy ounce.
✅ However, failure to hold above $2,300 per troy ounce could indicate a return to $2,200 per troy ounce.