Gold prices soared to an all-time high of $2,164.78 as central bank easing expectations weakened the US Dollar. The ECB and the Fed hinted at potential rate cuts, though the June Fed meeting remains the most likely timing.

Soft US economic data, including rising jobless claims, further fuels the idea that the economy is slowing, increasing pressure on the Fed to ease policy. Falling US Treasury yields further support Gold’s rally.

Technical Outlook: While the Relative Strength Index (RSI) signals overbought conditions, bullish momentum remains strong. Gold faces immediate resistance at the psychological $2,200 mark.

Potential Scenarios:

Upward: A pullback towards $2,150 or $2,100 could attract buyers aiming for $2,200.
Downward: A break below the March 6 low ($2,123.80) could trigger a correction towards $2,100, with further support at $2,088.48 and $2,065.60.