Today’s analysis of Gold (XAU/USD) shows a modest uptick of 0.23%, bringing the price to $2354.815. The metal’s movements are currently hovering around a crucial pivot point set at $2350.58. Should prices sustain above this level, immediate resistance lies at $2363.64, with subsequent barriers at $2373.80 and $2385.16 that could limit further upside.
Conversely, support levels are well-defined, starting at $2338.00, with stronger floors at $2322.77 and $2305.11, where buyers might re-emerge. The 50-day and 200-day Exponential Moving Averages are positioned at $2323.45 and $2320.00, respectively, underscoring a potential bullish bias unless prices fall below these averages.