Gold Eyes Fresh Highs, U.S.-Russia Talks Fail To Quell Haven Demand

2025-02-18 14:55:00 ET

Summary

• Geopolitical tensions continue to support gold prices despite talks between the US and Russia, and a potential phase two deal between Israel and Hamas.
• Gold has held above the $2900/oz level to start the week, but the RSI indicates it is in overbought territory.
• The article identifies key support levels for gold at 2924, 2913, and 2882, and resistance levels at 2937, 2942, and 2950.

By Zain Vawda

Risk aversion persisted in the markets today, even as a U.S.-Russia meeting in Saudi Arabia sparked hopes for a potential decline in safe-haven demand. Additionally, reports emerged of a phase two agreement being reached between Israel and Hamas....

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