Spot gold closed yesterday—during a session marked by market holidays in the U.S. and the U.K.—with a 0.4% decline, settling at 3,344. Reports suggesting accelerated trade agreements between the European Union and the United States are believed to have influenced price movement.
On the other hand, geopolitical developments remain closely monitored.
Technically, as long as the price does not break above the 3,335 resistance level, profit-taking may continue to weigh on the market. On the downside, 3,287 is seen as a key support level, followed by 3,250. If the price breaks above 3,335, the next target could be 3,370.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.