GOLD Struggles Amid Mixed Concerns,Bullish Support May Fuel Rise
The gold price struggles to defend its three-week uptrend ahead of looming US inflation data. Mixed concerns about the US default and banking fallouts, along with disbelief in the hawkish Fed talks and recent US data, are challenging XAU/USD buyers. Despite this, the price remains in a bullish momentum across all higher timeframes and is currently testing a support area at 2027.00. If the value finds support here, it may continue to rise. The next support level is at 2025.00, and only if the price drops below 2020.000 will our next idea be to short.
