XAUUSD

On the first trading day of the week; as the Fed's interest rate cut expectations gained strength, the ounce of gold broke a record. For the precious metal, which started the day at 2419 and traded around 2437 while the analysis was being prepared; the speeches of the FOMC members can be followed during the day. As long as it remains above 2,431.31, we can see upward momentum. The daily gain for the ounce of gold, which closed at 2,436.85 on the previous trading day, was 0.92%. The RSI indicator for the ounce of gold, which is above its 20-day moving average, is at 68.59, while its momentum is at 105.78. The 2,451 level can be followed in intraday downward movements. If this level is exceeded, the supports of 2,442, 2,437 and 2,432 may become important. In possible increases, 2,462, 2,467 and 2,472 will be monitored as resistance levels. Support: 2442 - 2437 Resistance: 2462 - 2467