XAUUSD

In a period marked by ongoing trade wars, economic calendar data is being closely monitored. U.S. President Trump announced that he is suspending tariffs of 25% on automobile manufacturers for a month and is open to further changes. This situation is increasing risk perception in the markets, while fluctuations in economic data continue. Although the ADP non-farm employment data fell below expectations, the ISM services PMI showing better than anticipated results signals growth in the sector. These developments support the upward momentum of gold.

Gold is trading above levels supported by short-term indicators. If it remains above the range of 2900 – 2907, upward movement is likely to continue. However, if sustained pricing occurs below this area, levels of 2890 and 2877 may come into focus. Key level: 2900 – 2907 range.