Gold Holds Firm Above $4,400 Amid Ongoing Safe-Haven Demand

Gold prices have maintained their upward pressure, trading above $4,400 as of this analysis. The precious metal's resilience above this level stems from a combination of factors, including persistent safe-haven demand and ongoing central bank purchases.

The technical picture is also bullish, with gold showing a series of higher lows and higher highs on the daily chart. This indicates a strong uptrend, with immediate support seen around $4,380-$4,400.

Market participants are closely monitoring geopolitical uncertainties and concerns over global economic growth, which continue to support gold's appeal as a store of value. Additionally, real yields remain low, reducing the opportunity cost of holding non-yielding bullion.