XAUUSD

Gold is supported by "safe haven" demand triggered by geopolitical tensions above the pivot level of 3023.21. The likelihood of renewed tensions in the Middle East and US-China trade disputes could push pricing towards the 3071.25 (Resistance 2) level. Technically, the 2998 support is a significant intraday support level. However, uncertainty in the Fed's interest rate policy and the risk of rising real yields make the uptrend fragile. If the 2998.98 support is broken, the next support is at the 2975 level.