XAUUSD

The increase in geopolitical risks in the Middle East is supporting gold prices with safe-haven demand. However, rises in the Dollar Index have caused gold to pull back slightly from record levels. After reaching record levels above 2740, gold is trading around 2730. Key developments that could influence market direction include a speech by FOMC member Harker and the Richmond Fed manufacturing index.

Technically, gold is positioned at 2732 and trading above the 2730 support level. In downward movements, the 2720 and 2710 levels can be monitored as support. In upward movements, the resistance levels are at 2740 and 2750. The RSI indicator is at 55, showing a neutral outlook. In the last 24 hours, a 0.48% increase in prices has been observed. Sustaining above 2730 could support an upward trend.