XAUUSD

On Sunday, US President Joe Biden announced that he would not be a candidate again and nominated Vice President Kamala Harris as the Democratic Party's candidate. On the first trading day of the week, this situation left room for limited gains in the ounce of gold. It is observed that the commodity is experiencing a decline due to the appreciation of the dollar. As long as it remains below the level of 2,400.69, we may see downward relaxation. The daily loss for the ounce of gold, which closed at 2,395.08 on the previous trading day, was 0.79%. The upward movement observed in US bond yields is pressuring the ounce of gold downward. The RSI indicator for the ounce of gold, which is above its 20-day moving average, is at 59.17, while its momentum is at 102.97. The 2,410.69 level can be followed in intraday upward movements. If this level is exceeded, the 2,418.75 and 2,425.43 resistances may become important. In case of possible pullbacks, 2,400.69 and 2,395.96 will be monitored as support levels. Support: 2400 - 2405 Resistance: 2410 - 2395