And the week from May 23 to 27, which will be the first in 8 time periods to close in the green zone, is just a confirmation of this movement. The quarterly reports of corporate giants frankly did not impress, and the failed reports of retailers openly indicate that purchasing power in the United States is seriously declining, and reports for the second quarter of this year may be even worse, which can easily drop the index to the 3000-3200 range by the end of July. To stop the fall, the index needs to consolidate above 4000-4050 points, but the external background is too negative for this. Therefore, the coming weeks may update annual lows up to 3600 points.

The primary driver of this increase is the global economic crisis, and gold has historically been the first precious metal in which investors put their money to protect their investments during market downturns. The recession that has begun in the United States, along with rising inflation in Europe due to high energy prices, is exacerbated by a possible humanitarian crisis - since the beginning of the year alone, food prices in the world have increased by 20%, and wheat futures have already broken through $1,300. The factors of a serious conflict in Ukraine, complications in China and the Fukushima earthquake make gold a great insurance option. Gold resistance levels are 1930 and 1950, after which a rapid increase to 2020 and $2100 is possible.