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XAU/USD Sideways Amid Geopolitical Tensions
XAU/USD trades near $2,660, moving sideways between key support at $2,580 - $2,590 and resistance at $2,710 - $2,720. The 34-day and 89-day EMAs provide dynamic support and resistance, maintaining the consolidation. Safe-haven demand remains strong due to ongoing tensions in the Middle East and the Russia-Ukraine conflict, supporting gold’s value.
In the short term, a break above $2,720 could lead to $2,750, while a fall below $2,580 may push prices toward $2,550. Traders should monitor geopolitical events and economic data for clearer direction.
In the short term, a break above $2,720 could lead to $2,750, while a fall below $2,580 may push prices toward $2,550. Traders should monitor geopolitical events and economic data for clearer direction.
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