XAUUSD

After the recession concerns in the US eased somewhat, the markets showed some relief. The ounce gold price is holding above the 2400 level again today after declining on the first trading day of the week. In addition, the geopolitical risk perception remains high, supporting the demand for a safe haven. As long as it remains below the 2,410 level, we may see downward easing. The daily loss for the ounce of gold, which closed at 2,407.38 on the previous trading day, was 0.13%. 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 51.92, while its momentum is at 100.27. The 2,415 level can be followed in intraday upward movements. If this level is exceeded, the 2,423 and 2,429 resistances may become important. In case of possible pullbacks, 2,401, 2,396.25 and 2,387.96 will be monitored as support levels. Support: 2415 - 2423 Resistance: 2401 - 2396