XAUUSD

As the conflicts involving the Houthis in Yemen and the U.S. continue, Israel's attacks on Gaza have led to an increase in geopolitical risks. Putin agreed to halt attacks on Ukraine's energy infrastructure but rejected Trump's 30-day ceasefire proposal. This situation has kept the perception of geopolitical risks high, amid concerns of uncertainty and stagnation, while gold reached a new record level at 3035. The Fed's monetary policy announcements can also be monitored throughout the day.

The precious metal is trading above the levels supported by the indicators we are watching in the short term. Gold can maintain its positive trend as long as retracements are limited within the 3005-3015 range. In upward movements, levels of 3045 and 3060 can be observed. For a negative outlook to form, 4-hour closes below 3005 are required; in that case, support levels of 3000 and 2993 may come into play. Important Level: 3005-3015 range.