Gold may retest $2400 level

Gold is riding a robust upward trend, driven by rising tensions in the Middle East and a general uptick in inflation affecting all commodity markets, including Gold. Additionally, Gold serves as an investment asset, often diverging from other major benchmarks like stock indices and cryptocurrencies.

Technically speaking, Gold is clearly in an upward trend and is likely to retest the intermediate-term high of $2400 before possibly entering a trading range or correcting.