Gold Prices Spike on Gaza Conflict, But Sustained Bull Market Uncertain

Recent surge in gold prices is driven by global risk aversion due to Gaza conflict, but it may be premature to declare a new bull market.

$2,000 per ounce area remains a key resistance level for gold after recent uptick.

Hawkish Fed stance and upbeat economic data could temper bullish sentiment for gold in near future.

Ukraine-Russia war earlier did not lead to sustained breakout above $2,100 despite initial gold price spike.

Technical outlook is bearish if $2,000 area resistance holds, with downside target near $1,970 support level.