XAUUSD

The ceasefire and hostage exchange between Israel and Palestine allowed for a weakening of geopolitical risk perception, easing the pressure on gold. Additionally, the decline in the USD/TRY exchange rate is highlighted as one of the factors limiting the drop in gold prices. Developments related to the transition process of U.S. President Trump and the monetary policy meeting of the Bank of Japan could influence gold prices in the coming days.

Technically, gold is trading at the level of 2708, and as long as it remains above the support area of 2693-2700, the expectation for an upward trend may prevail. In upward movements, the resistance levels of 2710 and 2720 can be monitored. If prices fall below the 2700-2693 support area, downward pressures may increase, targeting levels of 2685 and 2675. The RSI indicator presents a positive outlook, suggesting that upward movement in prices may continue. However, the crucial support area that needs attention is between 2693-2700.