Gold prices surged to a new all-time high on Wednesday, breaking above $3,560 as the rally stretched into its seventh straight trading day. 📈💰
The gains come amid renewed weakness in the U.S. dollar, which slipped after government data showed job openings fell to 7.18 million in July, below expectations. The disappointing labor market figures added to concerns about slowing economic conditions and boosted expectations that the Federal Reserve may cut rates sooner.
Safe-haven demand has also fueled gold’s climb, with investors turning away from equities and bonds amid persistent geopolitical risks. Analysts note that if prices hold above 3,500 on weekly and monthly charts, the next resistance levels could be 3,600, 3,750, and even 3,890, while support sits near 3,390.
With gold already up more than 3 percent this week, the metal remains firmly in bullish territory as investors continue to seek refuge from economic uncertainty.
Do you own any gold!? 🤔
#pubity #interesting