Gold closes week at $4,054
The week for gold prices ended at $4,054 per ounce, recording modest gains after recovering from the losses of the previous session, amid widespread anticipation in global markets due to geopolitical tensions in the Middle East and rising energy prices. Despite the increase at week's end, gold still faces pressure due to expectations of prolonged higher interest rates, which diminish its attractiveness as a safe haven. Additionally, the rise in oil prices, driven by regional tensions, has heightened inflation risks and impacted market movements. Markets continue to await the results of the U.S. Federal Reserve meeting, where interest rates are likely to remain temporarily unchanged. Technical analysis indicates that the overall trend remains negative, with notes suggesting the need to break certain levels to improve the technical outlook and regain an upward trend.
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