XAUUSD

The core PCE price index remained steady at 2.6% on an annual basis last Friday. On the other hand, rising geopolitical risks in the Middle East supported the demand for safe havens and contributed to the increases in the ounce gold price. As long as it remains below 2,395.19, we may see downward easing. The daily gain for the ounce of gold, which closed at 2,394.54 on the previous trading day, was 0.31%. The RSI indicator for the ounce of gold, which is above its 20-day moving average, is at 52.24, while its momentum is at 99.13. The 2,402 level can be followed in intraday upward movements. If this level is exceeded, the 2,410 and 2,417 resistances may become important. In possible pullbacks, the 2,387, 2,379 and 2,372 support levels will be monitored. Support: 2387 - 2379 Resistance: 2402 - 2410