Factors supporting the rise in gold:

•  The US Federal Reserve's monetary policies: If the Federal Reserve decides to ease its monetary policy and cut interest rates, this may lead to an increase in demand for gold as a safe haven, which may push it to new levels.
•  Geopolitical tensions: The turmoil in global markets and trade wars enhance the attractiveness of gold as a tool for hedging against risks, which may contribute to its further rise.
• The performance of the dollar and bond yields: There is usually an inverse relationship between gold and the US dollar, as the weakness of the US currency or the decline in Treasury bond yields supports gold prices.
• Institutional and investment demand: The continued increase in gold holdings by central banks and hedge funds reinforces the upward trend, as it is seen as a strategic asset for preserving value.