This morning, right at the opening of the day’s trading session, gold prices surged by more than 50 points, rising from the 447x area to 4536 USD/ounce, continuing to set a new all-time high (ATH).
Although many markets are still closed for the Christmas holiday, the sharp rise in commodity prices—especially silver—has drawn increased attention from investors toward the commodities market. Gold has seen stronger buying interest, which in turn has provided solid support for its sharp price increase.
After the strong rally, gold prices cooled slightly due to mild profit-taking. However, with other commodity prices showing no signs of decline, gold is likely to remain favored in investors’ commodity trading portfolios. As a result, gold prices are expected to continue rising strongly in the short term, with potential targets in the range of 4700–4800 USD/ounce.
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