The latest global gold price shows significant fluctuations due to various economic and geopolitical factors. Since last month, the price of gold per ounce has been trading in the range of USD 1,800 to USD 1,900. This price spike was largely triggered by high inflation and global political uncertainty. One of the main factors influencing gold prices is the monetary policy of central banks, especially the US Federal Reserve. An aggressive increase in interest rates could push up the value of the US dollar, making gold more expensive for overseas investors. The latest data suggests that the Federal Reserve will likely keep interest rates high until 2024, to tackle inflation that shows no signs of abating. On the other hand, demand for physical gold from countries such as China and India remains strong. Both countries are the world’s largest consumers of gold, and during the festival season, interest in gold usually increases. In September, gold demand in India surged as the Dussehra festival began, lending support to global gold prices. Investor sentiment is also a significant driver. Uncertainty in the stock market due to geopolitical tensions, such as conflicts in Eastern Europe and tensions in East Asia, has made many investors turn to gold as a “safe haven”. Gold ETF buying interest is increasing, indicating that investors are seeking protection from market volatility. Technically, chart analysis shows that gold prices are in a consolidation phase. Strong resistance is around USD 1,900, while the nearest support is located at USD 1,800. If gold prices are able to break through this resistance level, we can expect a further rally. Conversely, a drop below the support level could trigger further selling. Apart from that, the prices of other commodities also play an important role in determining the direction of gold prices. The surge in crude oil prices puts pressure on inflation, which in turn drives up demand for gold. Investors should continue to monitor commodity price trends to understand further gold price movements. Overall, although there are many factors that have the potential to influence gold prices, market sentiment and central bank monetary policy remain the main pillars. For investors, understanding these dynamics is key in planning future gold investment strategies. Be sure to stay up to date with market news and analysis to gain deeper insight into global gold price movements.