Locally, the XAUUSD price broke through the downtrend lines. Now we are near the first resistance of 1900. The next liquidity level is near 1950.
Many experts believe that the price will move sideways until geopolitical tensions subside or until the FED raises interest rates. However, even if rates start to rise with high inflation - the real interest rates are likely to be negative. Therefore, they believe that gold will remain attractive as a defensive asset.
Rising gold = a traditional harbinger of crises and slight shocks in the stock and crypto markets. Gold is an excellent choice for those who don't particularly want to go into cash inflation but don't want to be present in dive markets.