XAUUSD : Gold continues to create all-time highs

Gold prices continue to increase as the war situation in the Middle East escalates.

Gold prices are currently increasing for 3 consecutive sessions and are currently trading around $2,349.70.

During the April 9 session, gold prices continued to increase sharply, extending their upward momentum to 3 consecutive sessions and currently XAU/USD is trading around $2,349.70. Despite the RSI touching overbought territory, the precious metal has been consistently making new highs for nearly a month now. This evening, US CPI data will be released and this may cause gold to fluctuate strongly.

In the context of continuously escalating tensions between Israel and Hamas in the Middle East, gold prices have continued to rise. The precious metal has now maintained its upward momentum for the third consecutive trading session, as demand for haven assets continues to increase amid the current turmoil.

This week, gold's upward momentum will be tested by US March CPI data, released on Wednesday. Currently, the market is expecting US core CPI to increase by 0.3%.

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