Gold Prices Recover, US Data Supports Upside

Gold prices have shown a recovery trend in recent trading. Markets assess that the rise in the precious metal may continue, influenced by economic data from the US. Macroeconomic indicators, in particular, are boosting demand for gold by increasing investors' search for safe havens. Data released in the US signaled a slowdown in economic activity, strengthening expectations of interest rate cuts. A low-interest-rate environment stands out as a positive factor for gold, which yields no income. Analysts note that other data to be released this week will also be decisive for gold prices. From a technical perspective, gold prices are testing short-term resistance levels. Experts indicate that if the $2,400 per ounce level is breached, a new upward wave could begin. However, in the event of a possible correction, the $2,350 level is noted as a support to watch. Markets are focused on US inflation data to be released tomorrow. Lower-than-expected inflation could further boost gold prices. Meanwhile, ongoing geopolitical risks are another factor keeping interest in gold alive. This is not investment advice.