Recent fluctuations in the gold market demonstrate how challenging it is to forecast its price amid instability. The spot price of gold reached $2,423.99 per ounce on Thursday, up by 1.9%, but experienced a weekly decline, reflecting market uncertainty.

Geopolitical instability in the Middle East significantly impacts gold prices by increasing demand for this safe-haven asset. However, such spikes are often short-term, and the market quickly returns to stability.

Other precious metals are also attracting interest. Palladium, despite a recent drop to $910.25 per ounce, ended the week on a high note, while platinum continues to draw investor attention.

The economic situation in the US also affects the gold market. A decrease in unemployment claims has lessened recession fears and raised expectations for a reduction in Federal Reserve interest rates. Gold futures are currently at $2,462 per ounce, reflecting confidence in potential Federal Reserve easing measures.

Economic uncertainty caused by unexpected Federal Reserve statements and global trends also impacts gold. Anticipation of US Consumer Price Index (CPI) data could be a key factor for future Federal Reserve decisions and gold prices.

The recent decline of the US dollar has made gold more accessible to international investors. In the coming weeks, global economic and geopolitical conditions will be key factors. Technically, gold remains stable above $2,400 per ounce, and a break above the historical high of $2,483.75 could open up new growth opportunities.