XAUUSD

The stronger-than-expected U.S. retail sales data caused the Dollar Index to move sideways, leading gold prices to follow a limited trend. Throughout the day, the Fed's monetary policy statement will be closely followed by the markets. Consequently, signals the Fed will provide regarding future interest rate decisions and after January could be decisive for gold prices.

From a technical perspective, gold is trading below the 2650 – 2660 resistance zone. As long as it remains below this level, downward pressure might persist, and prices could pull back towards the 2640 and 2633 support levels. The RSI indicator displays a neutral appearance, and the market is indecisive. Four-hour closings above the 2650 – 2660 zone are necessary for an upward movement to occur. In this case, movements towards the 2673 and 2685 resistance levels could be observed. Prices have increased by 0.03% compared to the previous day.