XAUUSD

The core consumer price index in the US falling below expectations strengthened expectations of the Fed's interest rate cuts and caused the dollar to weaken. This contributed to the rise of gold. Throughout the day, data such as retail sales, the Philadelphia Fed manufacturing index, and jobless claims are expected to potentially impact the markets. These expectations of easing in US interest rate policies are paving the way for the increase in gold by boosting its safe-haven demand.

The chart shows that gold continues to trade above the 2675 – 2685 support zone. If the upward trend continues, movements towards the 2700 and 2710 resistance levels could be observed. However, if it falls below the 2675 – 2685 support zone, there is potential for a decline towards the 2666 and 2660 levels. The RSI indicator is at the 60 level and exhibits a positive trend. A decrease of 1.26% compared to the previous day is observed.