gold signal Gold benefits from the broad-based US Dollar weakness and recovers above $2,630 after falling to a daily low below $2,620 in the early American session on Monday. Meanwhile, the benchmark 10-year US Treasury bond yield holds above 4.6%, limiting XAU/USD upside.
he XAU/USD pair has been trading around the current level for six weeks in a row, with spikes on one side or the other being reverted, a sign investors are comfortably waiting for a powerful catalyst to justify higher highs. In the daily chart, the bright metal hovers around a flat 20 Simple Moving Average (SMA) while buyers defended the downside at around a bullish 100 SMA, now providing dynamic support at $2,624.98. Technical indicators, in the meantime, remain within negative levels, albeit with uneven directional strength, reflecting buyers’ pause.
The near-term picture suggests the bullish potential is limited. The 20, 100 and 200 SMAs
