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Gold broke a three-day decline at the start of the Asian session on Friday. Rising geopolitical tensions in the Middle East are boosting safe-haven assets like gold, despite higher yields on U.S. Treasury bonds. The XAU/USD price is hovering around $1,958, showing a 0.03% increase for the day. In the short term, on the 4-hour chart, XAU/USD has encountered sellers around the descending 20-day Simple Moving Average (SMA), extending its slide below the flat 100-day SMA. A breakthrough above these levels would encourage buyers and lead to further intraday profits. Meanwhile, technical indicators point upwards but remain in negative territory.
Support Levels: $1,945.20, $1,933.20, $1,923.10
Resistance Levels: $1,965.30, $1,978.30, $1,989.00
Support Levels: $1,945.20, $1,933.20, $1,923.10
Resistance Levels: $1,965.30, $1,978.30, $1,989.00
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