XAUUSD

The precious metal is seeing demand for safe havens due to the increasing geopolitical tensions in the Middle East and is gaining strength around the 4031 pivot level. In this week's upward attempts, 4078 stands out as the first resistance; if a sustained move above this region is achieved, a movement towards the 4105 level can be expected. On the downside, 4003 is the first significant support level. The FOMC minutes and statements from Fed Chair Powell are other important factors that will influence Gold's trajectory through the Dollar Index.