XAU/USD is sticking close to Tuesday's opening bids after Monday's 1.5% gainer. Market sentiment is shifting, but holding steady after the weekend's Gaza Strip escalation. US Treasury yields are easing for Tuesday, sapping momentum from spot Gold. ct sent Gold climbing nearly 3% from a near-term low of $1,810.51.
XAU/USD Technical Outlook Spot Gold remains firmly bearish in the medium-term despite the recent rebound in XAU/USD prices, trading far below the 200-day Simple Moving Average near $1,930, and an extended bullish move for Gold will quickly run into resistance from the 50-day SMA currently sinking into the $1,900 handle. XAU/USD sees itself well off 2023's highs near $2,080, with spot Gold down over 10.5%, or $220 per ounce.
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