XAUUSD

The suspension of tariffs by the US on Colombia, while somewhat easing the anxious anticipation in the markets, still leaves uncertainty as to which country might face these sanctions in the future. The recovery in the Dollar Index continues to exert pressure on gold prices. The downward trend in US index futures is reducing risk appetite in global markets. Developments in the artificial intelligence sector in China are notable, but intraday sales are limiting this optimism.

Technically, gold is moving in a decision phase between the 2750 – 2760 region. For an upward movement to gain confidence in the short term, prices need to remain persistently above the 2760 level. In this case, resistance levels of 2770 and 2780 may come to the fore. On the downside, sustained movement below the 2750 level could deepen declines and bring support levels of 2740 and 2727 into focus. The RSI indicator is at the 50 level, displaying a neutral outlook, and the price movement is notable with a 0.64% decrease.