XAUUSD

The growth data from the US surpassing expectations at 3.1% led to an increase in the Dollar Index and exerted pressure on gold prices. This weakened the safe haven demand for gold and shifted investors' attention to inflation indicators such as the core PCE price index. Inflation data from Japan, closely followed by Asian markets, increased expectations for BoJ's rate hike. US indices closed nearly flat, and the Dollar Index is trading at its highest levels since November 2022.

Technically, the XAU/USD pair is trading below the 2612 – 2620 resistance zone on the 4-hour chart, maintaining downward pressure. The current level of the pair is around 2600.84. In continuation of downward movements, support levels of 2590 and 2580 may be observed. For upward movements, breaking through resistance levels at 2605, 2612, and 2620 is necessary. The RSI indicator is at 54, showing a neutral outlook. While a 0.24% increase is observed compared to the previous day, these technical levels may be decisive for the pair's short-term direction.