XAUUSD

Despite the ISM manufacturing PMI data showing a decline for the third consecutive month, the rise in 10-year bond yields allowed it to suppress the upward movements of the ounce of gold in the short term. For precious metal pricing, JOLTS job opportunities and Fed Chair Powell's speech can be followed during the day. It is observed that the commodity is experiencing a decline due to the appreciation of the dollar. We can see downward relaxations as long as it remains below the level of 2,329.05. The daily loss for the ounce of gold, which closed at 2,327.74 on the previous trading day, was 0.18%. The upward movement observed in US bond yields is suppressing the ounce of gold downward. The RSI indicator for the ounce of gold, which is below its 20-day moving average, is at 49.49, while its momentum is at 99.78. The 2,333 level can be followed for intraday upward movements. If this level is exceeded, the 2,338 and 2,342 resistances may become important. In case of possible pullbacks, 2,323 and 2,319 will be monitored as support levels. Support: 2323 - 2319 Resistance: 2333 - 2338