Gold Prices Rise on Expectations of Monetary Policy Easing and Geopolitical Unrest

Gold markets initially fell but rebounded as buyers entered the market due to geopolitical concerns and increased gold purchases by central banks. The market is expected to remain volatile due to the upcoming Federal Reserve meeting. There is a possibility of a descending wedge formation, but buying pressure is likely to provide support. If the market breaks above the resistance level, it could reach $2050. Given the geopolitical concerns and gold's status as a safe asset, shorting the gold market is not recommended.