XAUUSD dropped below the 2020 mark yesterday. However, the price lacked continuation and rebounded from the 2012 zone, which is now serving as a support level. As of the current moment, the price of Gold has returned to its familiar range, hovering around 2025. Looking ahead, a break above 2030 would finally confirm that a low is in place and could potentially expose the 2065 resistance zone. This breakout would mark a significant shift in the market dynamics, potentially indicating further upward momentum for Gold. Traders should closely monitor price movements around these key levels for potential trading opportunities and trend developments.
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Gold prices edged up on Tuesday, ahead of a U.S. inflation report that could give fresh perspective on the timing of the Federal Reserve's first rate cut.
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