XAUUSD

On the first trading day of the week; despite the US 10-year Treasury bond yield rising to 4.42%, ounce gold renewed its record (2353). The precious metal, which opened the day at 2322, is trading around 2338 while the analysis is being prepared. When we technically evaluate the short-term ounce gold pricing, we are following the 2300 - 2310 region, which is currently supported by the 13 (2306) period exponential moving average. As long as the precious metal limits the downward demand in the 2300 - 2310 region, the positive trend may continue. If the upward demand continues, a movement area may form towards the 2355 and 2370 levels. In the meantime, the attitude of the 2355 level can be monitored in terms of the continuation of the upward expectation. In the alternative view, permanent pricing below the 2300 - 2310 region may be needed for the downward trend to become dominant. In this case, movements towards the levels of 2290 and 2275 can be monitored. Support: 2310-2300 Resistance: 2355-2370