Commenting on the Gold and Silver outlook Renisha Chainani, Head Research – Augmont – Gold For All said that The price of gold continues its amazing rise, hovering over $2500/oz, close to record highs. The fundamental driver of this rally is increased demand for safe-haven assets amidst growing global concerns. The Middle East crisis continues at the forefront, with US Secretary of State Antony Blinken scheduled to attend Israeli-Gaza truce negotiations.

Chainanialso said that shifting news from the region raises doubts about the effectiveness of these discussions, highlighting gold’s value as a solid investment. This week marks a key moment for gold investors as the Federal Reserve releases meeting minutes and Chairman Jerome Powell delivers a speech. These events will likely explain the Fed’s stance on monetary policy, influencing the gold price prediction trend. The next resistance is psychological levels of $2550 (~Rs 73000) and $2600 (~Rs 74500).