🔖XAU/USD, H4🔖 5 April 2024
Despite a slight slowdown in bullish momentum, gold prices maintained near-record levels as global investors treated cautiously ahead of key economic data releases. Geopolitical tensions in regions like the Middle East and ongoing crises in Russia and Ukraine, coupled with a recent earthquake in Taiwan, continued to drive safe-haven demand for gold, further supported by a weakening US Dollar.
Gold prices are trading flat while currently testing the resistance level. Suggesting the commodity might trade lower.
Resistance level: 2290.00, 2305.00📉
Support level: 2280.00, 2260.00📈
Despite a slight slowdown in bullish momentum, gold prices maintained near-record levels as global investors treated cautiously ahead of key economic data releases. Geopolitical tensions in regions like the Middle East and ongoing crises in Russia and Ukraine, coupled with a recent earthquake in Taiwan, continued to drive safe-haven demand for gold, further supported by a weakening US Dollar.
Gold prices are trading flat while currently testing the resistance level. Suggesting the commodity might trade lower.
Resistance level: 2290.00, 2305.00📉
Support level: 2280.00, 2260.00📈