XAUUSD

The dollar index in the U.S. has stalled at a certain level ahead of the release of the Consumer Price Index (CPI) data. This situation creates a supportive effect for gold, which has retreated to its lowest levels in the last two months. While U.S. inflation data may lead to new price movements in the markets, in Asian markets, the selling pressure is prominent due to the potential impacts of Trump's policies. The expectation that the FED's rate cut pace might slow down provides the dollar index with a position close to the highest levels since the beginning of May.

From a technical perspective, gold is currently trading below the resistance zone of 2620 – 2630. Levels of 2600 and 2590 are followed as support. The RSI indicator is around 51, presenting a neutral market outlook. A 0.27% increase is observed compared to the previous day's close. It can be said that upward movements might remain limited unless there are sustained moves above the 2620 – 2630 region. If the 2630 level is exceeded, resistance levels of 2640 and 2650 could be targeted.