Gold prices rose to an almost two-month high, reflecting growing investor concern over geopolitical instability. The conflict between Iran and Israel, coupled with uncertainty around Fed decisions, increased the attractiveness of precious metals. Gold overcame the level of $3400 per ounce, and some analysts expect a possible test of $3,500. In addition to geopolitical risks, the attention of market participants is focused on the upcoming decision of the Fed, and from the Regulator itself they are waiting for comments and signals about the reduction of rates in the future - potentially from September, against the background of slowing economic activity and moderate inflationary pressure.

From a technical point of view, gold remains in the resistance area above $3400.