XAU/USD, H4
Gold prices stage a rebound as downbeat US economic data prompts investors to seek refuge in
dollar-denominated gold. The focus shifts from subdued US inflation expectations to escalating
geopolitical tensions in the Middle East, rekindling the safe-haven appeal of the precious metal.
Gold prices are trading higher following the prior breakout above the resistance level. MACD has illustrated increasing bullish momentum, while RSI is at 60, suggesting the commodity might extend its gains since the RSI stays above the midline.
Resistance level: 2055.00, 2080.00
Support level: 2035.00, 2015.00
Gold prices stage a rebound as downbeat US economic data prompts investors to seek refuge in
dollar-denominated gold. The focus shifts from subdued US inflation expectations to escalating
geopolitical tensions in the Middle East, rekindling the safe-haven appeal of the precious metal.
Gold prices are trading higher following the prior breakout above the resistance level. MACD has illustrated increasing bullish momentum, while RSI is at 60, suggesting the commodity might extend its gains since the RSI stays above the midline.
Resistance level: 2055.00, 2080.00
Support level: 2035.00, 2015.00