XAUUSD

In the middle of the week; After the Richmond Fed manufacturing index and existing home sales data fell short of expectations, the US 10-year Treasury yield showed a decline. With the support of this situation, the ounce of gold recorded a slight recovery in the short term. For precious metal pricing, leading service and manufacturing PMIs and new home sales data can be monitored during the day. As long as it remains above the 2,412.90 level, we can see upward momentum. The daily gain for the ounce of gold, which closed at 2,415.21 on the previous trading day, was 0.24%. The RSI indicator for the ounce of gold, which is above its 20-day moving average, is at 56.46, while its momentum is at 102.37. The 2,407 level can be followed in intraday downward movements. If this level is exceeded, the supports of 2,399 and 2,394 may become important. In possible increases, 2,420, 2,426 and 2,433 will be monitored as resistance levels. Support: 2407 - 2399 Resistance: 2420 - 2426