XAUUSD

Gold continues its positive trend despite inflation concerns in the FOMC minutes and rising geopolitical risks. The yellow metal rose by 0.8% to reach $3,060 per ounce following the release of the minutes. Geopolitical tensions, the US-China trade war, and central banks' continuous gold purchases support prices. Technically, $3,220 is monitored as strong support, while $3,060 is seen as medium-term resistance. The strategy of central banks to increase gold reserves and the demand for safe havens keep gold's medium-term outlook positive.