XAUUSD

After the US economy grew by 1.6% in the first quarter according to the first reading, despite the 10-year Treasury bond yield moving around 4.7%, the ounce of gold has recovered somewhat. The precious metal, which opened the day at 2331, is trading around 2335 while the analysis is being prepared. The core PCE price index change and Michigan consumer sentiment data can be monitored during the day due to their possible effects. When we evaluate the short-term ounce gold pricing technically, we are monitoring the 2320 - 2340 region, which is currently supported by the 13 (2327) and 34 (2336) period exponential moving averages. Permanent pricing above the 2340 level may be needed for the positive expectation to be reinforced. In possible recoveries, the 2355 and 2365 levels may be on the agenda. Permanence below the 2320 level may be required for the negative expectation to come to the fore. In possible declines, levels 2310 and 2300 may be encountered. Support: 2320 - 2310 Resistance: 2355 - 2365