XAUUSD

Despite ongoing geopolitical tensions in the Middle East, gold is pressured by the rising dollar index. The precious metal dropped to the 2725 level after testing the 2760 level due to subsequent selling. The U.S. unemployment claims and preliminary service and manufacturing PMI data to be announced today could affect gold pricing. Projections showing Trump gaining prominence in the U.S. elections increase upward pressure on the dollar, causing gold to encounter resistance.

Technically, gold fluctuates between 2710 and 2730 levels and is in a decision-making phase in this region. The current chart observes price action in a 4-hour timeframe, indicating resistance levels at 2750 and 2760 in upward movements. In downward movements, 2730, 2720, and 2710 support levels are monitored. The RSI indicator is at the 45 level, showing a slight negative trend. A decrease of 0.18% compared to the previous day is observed. Especially if there is a sustained move below the 2710 level, further declines may be noted.