Product: XAU/USD Prediction: Increase Fundamental Analysis: The Gold price (XAU/USD) gains traction above $2,500 per troy ounce on Wednesday, bolstered by the escalating geopolitical tensions in the Middle East. Additionally, US Federal Reserve (Fed) Chair Jerome Powell's speech at the Jackson Hole symposium last week, signalling “time has come” to begin lowering interest rates, supports the precious metal as it reduces the opportunity cost of holding non-interest-paying assets.