XAUUSD

Spot gold is under the influence of the rise in the dollar index after the US increased import tariffs on Canada, Mexico, and China. While this situation increases the demand for gold as a safe haven, the strengthening dollar puts pressure on gold prices. The ISM manufacturing PMI data to be announced in the US may create new volatility in the markets. Additionally, the high import tariffs of the US have the potential to support the dollar and increase pressure on gold.

Technically, spot gold is priced above the 2780 level but is at a decision stage in the short-term outlook. The RSI indicator is at level 45, showing a neutral market outlook. Gold prices have declined by 0.59 percent. While upward movements may be monitored at resistance levels of 2790 and 2800, potential pullbacks may highlight support levels at 2770 and 2760. The 2770-2780 region stands out as the important level of the day, and pricing below this region may increase the risk of turning negative.