USD/XAU Price & Performance (USDXAU)

Gold prices surged to a record $3,000 per ounce last week, drawing investor attention as a safe-haven asset amid economic uncertainty. Analysts project further gains, with potential upside targets near $3,365. Key support levels to watch include $2,833 and $2,790 in case of short-term pullbacks.1

The US Dollar Index (DXY) remains under bearish pressure, trading below the critical 105.00 level. While a short squeeze could occur, sustained weakness suggests limited upside potential. Market focus is on whether the dollar can regain momentum or if further declines will expose new support levels.2

Gold's breakout above $3,000 signals a continuation of its longer-term uptrend. Analysts highlight a possible price target around $3,365, with support at $2,833 and $2,790. The commodity continues to benefit from safe-haven demand as investors monitor economic and geopolitical risks.1