Gold Reaches New High: Price Consolidates Amid Market Uncertainty

Gold prices reached a historic peak of $3,341.30 this week, marking a significant 7% increase from mid-2023. This surge followed a strong parabolic upward trend throughout the period. However, recent volatility in the market and indicators suggest short-term caution is warranted. The Relative Strength Index (RSI) currently stands at 52, indicating potential for a correction after the recent price surge.