XAUUSD

After the fluctuations at the beginning of the week, the Dollar Index entered a recovery phase and began to decline after reaching the 108 level. This situation presents a new opportunity for the recovery of gold. Today, the statements from the Fed regarding monetary policy will be closely monitored.

Gold continues to trade above the level supported by the indicators we are tracking in the short term. As long as the precious metal remains above the 2750 – 2760 range, it may hold potential for further upward movement. If positive momentum continues, there could be a movement towards the 2770 and 2780 levels. In an alternative scenario, if there are sustained price levels below the 2750 – 2760 region, a decline towards the 2736 and 2727 levels may occur. The critical level for the day is: the 2750 – 2760 range.