Gold Prices Rise Above $4,100

Gold prices gained 0.9% on the morning of July 22, rising above $4,113 per ounce. With this increase, gold approached its highest level since July 10. Market participants are closely monitoring the U.S. Federal Reserve's (Fed) monetary policy meeting scheduled for July 28-29. The Fed's interest rate decision and forward guidance will be decisive for gold prices. Additionally, geopolitical developments in the Middle East and risks to energy supply are supporting demand for gold. Investors are turning to safe-haven assets amid concerns that a potential escalation in the region could impact energy prices and, consequently, inflation. From a technical perspective, gold's sustained position above $4,100 could pave the way for new record attempts in the short term. However, if the Fed maintains its tight monetary policy, the $4,000 per ounce level may be watched as support. This is not investment advice.

📊 GLD — Piyasa Yorumu

▲ up · 70%

The rise of gold prices above $4,100 and the RSI14 value of 66.50 indicate that gold prices may increase further in the short term. The MACD and MACD signal values also support a positive trend. However, the fact that the SMA20 and SMA50 values are very close to each other may indicate some instability. Therefore, it is predicted that gold prices may rise in the short term, but caution is advised.

RSI 14

66.5

MACD

1.40

24h Δ

1.27%

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