XAUUSD

Despite the high tension in the Middle East, the rise of the Dollar index continues to exert pressure on ounce gold. After record pricing near the 2760 level, selling pressure led the precious metal to decline to the 2725 level. Markets will closely follow today’s US data on unemployment claims and preliminary service and manufacturing PMI figures. Maintaining stability above the 2730 level is highlighted as an important criterion for sustaining a positive outlook, whereas movements below this level could increase negative expectations.

When examining the 4-hour chart for ounce gold, the price is observed to fluctuate between the 2710 and 2730 levels. A sustained move above 2730 could allow the price to aim for the 2740 and 2750 resistance levels. Otherwise, slipping below 2710 could bring the 2700 and 2690 support levels into focus. The RSI indicator is at 68, exhibiting a positive trend, indicating that the current recovery efforts may maintain their strength. There is a decrease of 0.11% compared to the previous day, and the 2700 level, supported by the 55-period exponential moving average, can be monitored as a critical support region in downward movements of the price.