XAUUSD : Gold is pushing towards record territory

Gold prices steady amid mixed US PPI data, investors ready for tonight's CPI data

Gold's rally continues after falling on Monday at $2,357, but has yet to surpass the recent high of $2,378, recorded on May 10. This could cause the XAU/ USD moves sideways within a certain price range. According to the RSI indicator, the current trend is beneficial for investors holding gold.

Therefore, the first level of resistance for XAU/USD will be the high of May 10, which is $2,378. If surpassed, the next level will be $2,400, followed immediately by the April 19 high of $2,417 and the historical peak of $2,431.

Conversely, if bears prevail and push the price below $2,359, it could lead to a decline to the May 9 low of $2,306, then to $2,300. Once crossed, the next stop will be the 50-day SMA at $2,249.

Trade active:

🔝 XAUUSD BUY 2353 - 2355 🪙🪙🪙

✔️ TP 2360
✔️ TP2 2365

❌ SL 2345

🔝 XAUUSD BUY LIMIT 2347 - 2349 🪙🪙🪙

✔️ TP : 2355
✔️ TP1 : 2360

❌ SL 2340