XAUUSD

On the first trading day of the week; after the US PPI data showed a decrease of 0.1% on a monthly basis, the 10-year treasury bond yield moved below 3.94%, and the ounce of gold showed some recovery in the short term. When we evaluate the short-term ounce gold pricing technically, we are following the 2033 - 2044 region, which is currently supported by the 34 (2039) period exponential moving average. As the 2033 - 2044 region acts as a barrier limiting pullbacks in precious metal pricing, the desire for an increase may remain at the forefront. If the upward trend continues, the 2061 and 2070 levels may come to the fore. In the alternative case, it may be necessary to see permanence below the 2033 - 2044 region for the desire for a decrease to come to the fore. In this case, the 2024 and 2017 levels may be encountered in possible pullbacks. Support: 2024-2017 Resistance: 2052-2061