XAUUSD

The fact that the US Producer Price Index (PPI) data fell below expectations caused the dollar index to decline, supporting gold prices. The Consumer Price Index (CPI) data to be announced today, along with data such as the NY Fed Empire State manufacturing index, could have significant impacts on gold prices. Additionally, speeches by FOMC members should be followed for market direction. In Asian markets, a mixed trend is observed before the data release, while fluctuations are noted in US bond yields.

Technically, gold is trading below the 2675 resistance level. In case of upward movements, if the 2675 level is surpassed, the 2685 and 2693 resistance levels should be closely monitored. In the event of a downward movement, the 2660, 2650, and 2640 support levels can be followed. The RSI indicator is at the 50 level and exhibits a neutral outlook. The gold price stands at 2678.35, a 0.05% increase from the previous day. The range of 2660 – 2675 emerges as the key level of the day.