XAUUSD

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XAUUSD

In the Middle East, political changes in Syria and the resumption of gold purchases by the People's Bank of China are creating new balances in global markets. The end of the Assad administration in Syria increases concerns of instability in the region, which raises the demand for gold. Meanwhile, weak consumer demand indicated by inflation data in China is driving investors to seek safe havens, providing support to gold prices.

Technically, gold is trading at the 2640 level, fluctuating in the 2640-2650 range. This area constitutes a critical decision-making level. If stability is maintained above 2650, prices may move towards the resistance levels of 2660 and 2663. In a downward scenario, closures below the 2630 level could trigger a pullback towards the supports at 2620 and 2610. The RSI indicator is at the 55 level, showing a positive trend. Today, gold prices recorded a 0.27% increase.

Support :

2630 - 2620 - 2610

Resistance :

2650 - 2660 - 2663