Gold started resurgence following US-Venezuela conflict. Futures shot up over weekend as geopolitical uncertainty drove headlines and flows into gold. Price action suggests squeeze higher as central bank gold holdings continue increasing while ETF inflows slowed this month. Fed becoming buyer of bills and global pivot away from US Treasuries may push gold further up. Invasion also acts as way for US to acquire more gold, as Venezuela has large gold reserves.
Key Levels: Support at $4,275.09 | Resistance at $4,580.17
Investor Takeaway: RSI at 67 with MACD showing reemerging bullish momentum and increased buying pressures; geopolitical premium from Venezuela conflict plus potential US acquisition of Venezuelan gold reserves supports rally.
