XAUUSD

While uncertainty regarding customs duties continues, geopolitical risks are on the rise. The attacks by the U.S. on the Houthis in Yemen will persist until the shipping assaults in the Red Sea are halted. Despite these developments, due to the horizontal movements in the Dollar Index, gold prices have shown fluctuations close to record levels. Important data such as retail sales and the NY Fed Empire State manufacturing index will be monitored today.

The spot gold is trading above the level supported by the indicators we are following in the short term. If it continues to stay above the 2965 – 2975 range, the desire for upward movement may persist. Should positive movements continue, a movement towards the 2993 and 3000 levels could emerge. However, if there are sustained price levels below the 2965 – 2975 range, levels of 2955 and 2947 may be tested.