Gold prices spiked higher in the early hours of Friday morning after reports emerged of the Israeli strike on Iran. The back and forth between the two nations risks sparking a broader conflict between the two and prompted a short-lived flight to safety.
Uncertainty surrounding the conflict in the Middle East has helped push gold prices higher and higher, nearly testing the all-time high around $2431.
On the daily chart, gold continues to trade within overbought territory but the degree of overheating has been cooling down – suggesting a slow down in bullish momentum within the broader uptrend.
