XAUUSD

In the middle of the week, the upward movement of the US 10-year Treasury bond yield put pressure on the ounce gold price. After the markets eased their recession concerns, the effect of the increase in the 10-year yield began to be felt. On the other hand, the geopolitical risk perception towards the Middle East remains high, but there is no different development yet. As long as it remains above the 2,388.47 level, we can see upward momentum. The daily gain for the ounce of gold, which closed at 2,392.56 on the previous trading day, was 0.10%. The RSI indicator for the ounce of gold, which is below its 20-day moving average, is at 49.06, while its momentum is at 99.81. The 2,388.47 level can be followed in intraday downward movements. If this level is exceeded, the supports at 2,383.21, 2,373.86 and 2,368.61 may become important. In possible increases, 2,403.08 and 2,412.43 will be monitored as resistance levels. Support: 2388 - 2373 Resistance: 2403 - 2412