XAU/USD: Balancing at Resistance
Gold is holding steady at $2,665, like a gladiator facing the challenge of the $2,689-$2,718 resistance zone. The EMA 34 and 89 stand as formidable barriers, while the $2,647 support acts as the final line of defense.
The three-day rally, fueled by geopolitical risks and declining U.S. bond yields, faces a fragile path as the shadow of a strong USD looms over the climb.
If gold breaks above $2,718, it could soar to $2,750. However, a drop below $2,647 would bring the downtrend roaring back, pulling prices toward $2,600. Patience and sharp strategy are the keys to navigating these turbulent waters.
The three-day rally, fueled by geopolitical risks and declining U.S. bond yields, faces a fragile path as the shadow of a strong USD looms over the climb.
If gold breaks above $2,718, it could soar to $2,750. However, a drop below $2,647 would bring the downtrend roaring back, pulling prices toward $2,600. Patience and sharp strategy are the keys to navigating these turbulent waters.
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