XAUUSD : Is gold likely to return to 2010?

Gold fluctuated slightly as markets remained cautious in a week with few important data

Gold prices have not had many strong fluctuations as the market waits for new catalytic factors on the precious metal.

During the February 6 session, gold prices mainly traded in the range of $2,023 - $2,029 before rebounding to $2,036 at the end of the day when the USD's upward momentum slowed. Geopolitical tensions in the Middle East continue to be a concern as the US has increased its response actions against the Houthi rebels. Gold's resistance remains at $2,050 and support appears at $2,030.80. Gold is currently down slightly to $2,034.

Fed officials' speeches will remain the main mover for gold as investors maintain caution in a week without much economic data.

Trade active:

Sell : 2031 - 2033
TP1 : 2027
TP2 : 2023
TP3 : 2020
TP4 : 2015
TP5 : 2010
SL : 2040