In today’s market, gold (XAU/USD) is slightly up, trading at $2309.705—a 0.36% increase. The commodity hovers around its pivot point at $2309.65, suggesting a critical juncture for the next price moves. If gold surpasses this level, it faces immediate resistance at $2328.74, with subsequent thresholds at $2351.65 and $2378.36. These barriers will test gold’s ability to sustain an upward trend.
Conversely, support levels are positioned at $2282.52, $2254.51, and $2230.01, which could provide stability in case of a price dip. The technical setup shows gold just above its 200-day EMA at $2284.47 and slightly below the 50-day EMA at $2316.33, indicating potential volatility. A sustained move above $2285 could keep the bullish trend intact while falling below might trigger significant sell-offs.
Arslan, a webinar speaker and derivatives analyst, has an MBA in Finance and MPhil in Behavioral Finance. He guides financial analysis, trading, and cryptocurrency forecasting. Expert in trading psychology and sentiment.