Gold Prices Rise with Escalating Iran-Israel Tensions

Gold prices started the week on a positive note in early trading. This was largely due to the escalation of tensions between Iran and Israel over the weekend. Recent trends suggest that gold continues to serve as a dependable investment option during periods of uncertainty and market turbulence. With Iran's drone attack on Israel late Saturday, investors sought safety in the traditional precious metal, leading to an increase in demand as traders prepared for the new week.

The critical support zone for gold is at $2320/25. If this zone is breached, and Israel remains silent, an acceleration can be expected in selling pressure. It's also worth noting that there was a gap opening in the 2343/47 zone.