XAUUSD

Despite the US PPI data coming in higher than expected, the 10-year Treasury bond yield falling towards 4.44% left room for upward pricing of gold. For the precious metal, which started the day at 2356 and traded around 2359 while the analysis was being prepared; CPI, retail sales and Empire State manufacturing index can be followed during the day. As long as it remains above 2,358.19, we can see upward momentum. For the ounce of gold, which closed at 2,358.54 on the previous trading day, the daily gain was 0.02%. The RSI indicator for the ounce of gold, which is above its 20-day moving average, is at 58.77, while its momentum is at 100.99. The 2,358.19 level can be followed in intraday downward movements. If this level is exceeded, the supports at 2,355, 2,352 and 2,349 may become important. In possible increases, 2,361, 2,364 and 2,367 will be monitored as resistance levels. Support: 2352 - 2349 Resistance: 2361 - 2364