XAUUSD

The more than expected cooling of employment data in the US caused recession concerns to be fueled, while the 10-year Treasury bond yield remained under pressure. On the other hand, as the geopolitical risk perception in the Middle East remained high, the ounce of gold continued to rise. For the precious metal, the ISM services PMI can be monitored during the day. As long as it remains above the level of 2,442.49, we can see upward momentum. The daily gain for the ounce of gold, which closed at 2,454.11 on the previous trading day, was 0.47%. The RSI indicator for the ounce of gold, which is above its 20-day moving average, is at 61.69, while its momentum is at 100.36. The 2,433.12 level can be monitored for intraday downward movements. If this level is exceeded, the supports at 2,426.15, 2,398.20 and 2,381.86 may become important. In possible increases, 2,470.44, 2,486.78 and 2,514.73 will be monitored as resistance levels. Support: 2433 - 2426Resistance: 2470 - 2486