Gold (XAU/USD) prices reached a fresh monthly high today, touching $2,518 per ounce as safe-haven demand accelerated across global markets.
Geopolitical tensions and shifting expectations surrounding Federal Reserve rate cuts have bolstered bullion appetite among institutional investors and sovereign central banks alike.
Gold analysts highlight that falling benchmark 10-year US Treasury yields have reduced the opportunity cost of holding non-yielding precious metals. Physical gold buying in Asian markets has also remained robust despite elevated spot prices.
Key Technical Levels:
Immediate resistance sits at $2,530, while initial downside support is identified near $2,485.
"Spot gold prices climbed past $2,500/oz as investors seek safe-haven assets ahead of major central bank rate decisions."