Geopolitical Unrest Drives Gold Beyond $2,400

The political tension between Israel and Iran continues to escalate, propelling Gold prices to regain momentum and surpass the $2,400 mark in Friday's Asian trading session. If this tension continues to escalate, forecasts suggest that Gold prices could experience even stronger growth, potentially reaching the $2,500 threshold.

Looking at the chart, we can observe that prices have crossed above the Simple Moving Average (SMA) lines and are advancing further upwards, indicating a very strong upward trend.

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Gold dropped sharply to touch the SMA 100 area at 2,374 USD