Gold nears all-time high as mixed markets drive safe-haven demand

Gold (XAU/USD) is approaching record highs near $2,450/oz, gaining 0.4% as mixed global equity markets and persistent trade tensions boost safe-haven demand. US markets closed mixed with the S&P 500 flat while weak economic data fueled recession concerns. Asian markets showed divergence with Japanese equities declining 0.3% while Chinese indices gained 0.5%. European markets posted modest gains of 0.2-0.4% in early trading. The dollar index (DXY) weakened 0.15% to 104.20, providing additional support for gold prices. Technical analysis shows immediate resistance at $2,448 (previous all-time high), with support established at $2,425. A breakout above resistance could trigger momentum buying toward $2,475, while any risk-on rotation might pressure prices back to $2,400. Traders are positioning for continued volatility ahead of key US economic releases.