Gold prices stage a modest recovery, capitalising on a weakening US Dollar post lacklustre home sales data. Despite this positive momentum, the overall short-term trajectory for the gold market remains in a state of flux. Investors maintain a cautious stance, patiently awaiting critical US economic data, including US GDP and the US Core PCE report.
Gold prices are trading higher while currently testing the resistance level. MACD has illustrated diminishing bearish momentum, while RSI is at 56, suggesting the commodity might extend its gains after breakout since the RSI stays above the midline.
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