The upward trend of Gold remains strong, with prices continuing to advance towards the possibility of recording a new historical peak near the level of $4,686 on the condition of maintaining trading above the previous $4,381 historical peak, according to Mubasher Trade Research.

The confirmed breakout and sustained stability above the level of $4,686 would support further upward movement towards the $4,994 level, which in case of moving above it would pave the way for setting the next upward target at $5,181.

Mubasher Trade Research noted that the range between $4,994 and $5,181 is a main area for profit-taking, where short-term price corrections may occur.

Despite the emergence of negative divergence on the Relative Strength Index (RSI), indicating a potential slowdown in buying power, the ability of gold prices to remain above the main support level that is represented by the previous historical peak continues to reinforce the strength of the prevailing trend.

Important note: This analysis is based solely on the fundamentals and tools of technical analysis, and reflects a purely analytical perspective that may vary depending on different methods of interpretation and assessment. What is stated in this report should not be considered a direct recommendation to buy or sell, nor an invitation to make any investment decisions; it is for monitoring and study purposes only. Investment decisions are the sole responsibility of the investor based on their financial situation and personal goals.

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