🔖XAU/USD, H4🔖 18 April 2024
Gold prices remained range bound as investors grappled with mixed fundamentals and geopolitical tensions. The yellow metal struggled to find clear direction amidst conflicting factors, including the Federal Reserve's hawkish stance and better-than-expected US economic data weighing on demand, countered by rising tensions in the Middle East bolstering safe-haven appeal. As uncertainties persist, investors are closely monitoring geopolitical developments and sanctions implementations for trading signals.
Gold prices are trading flat while currently near the support level. Suggesting the commodity might trade higher.
Resistance level: 2375.00, 2400.00📉
Support level: 2360.00, 2340.00📈
Gold prices remained range bound as investors grappled with mixed fundamentals and geopolitical tensions. The yellow metal struggled to find clear direction amidst conflicting factors, including the Federal Reserve's hawkish stance and better-than-expected US economic data weighing on demand, countered by rising tensions in the Middle East bolstering safe-haven appeal. As uncertainties persist, investors are closely monitoring geopolitical developments and sanctions implementations for trading signals.
Gold prices are trading flat while currently near the support level. Suggesting the commodity might trade higher.
Resistance level: 2375.00, 2400.00📉
Support level: 2360.00, 2340.00📈