XAUUSD: Downward Pressure Dominates!
Currently, XAUUSD is fluctuating between 2,644 and 2,706 USD, facing selling pressure from both the 89 and 34 EMA levels.
With the USD Index strengthening and U.S. inflation rising, gold struggles to break the 2,706 USD resistance.
If tensions in the Middle East escalate, gold might surge to 2,725 USD as a safe-haven asset.
However, in the short term, the bearish scenario remains dominant unless there’s a policy shift from the Fed or significant USD volatility.
With the USD Index strengthening and U.S. inflation rising, gold struggles to break the 2,706 USD resistance.
If tensions in the Middle East escalate, gold might surge to 2,725 USD as a safe-haven asset.
However, in the short term, the bearish scenario remains dominant unless there’s a policy shift from the Fed or significant USD volatility.
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