XAUUSD

Following the US presidential election and the Fed's November statement, the expectation that the Fed will keep rates unchanged in December, along with the continuing rise of the Dollar Index, is putting pressure on gold prices. Additionally, the failure of China's announced stimulus measures to create the expected impact is another factor increasing this pressure on gold. Weekly pressure starting in Asia and upcoming inflation data to be announced in the US are being closely monitored by global markets.

Technically, spot gold is trading below the 2690 – 2710 resistance zone in the short term, and if the downward movements continue, the support levels of 2660 and 2650 could come into focus. On the daily timeframe of the chart, the RSI indicator at the 40 level presents a negative outlook. Prices that have fallen by 0.61% compared to the previous day may continue to follow a downtrend unless a sustained movement above the 2690 – 2710 levels occurs. In the event of a recovery above the 2690 resistance, the 2680 and 2690 levels may be monitored as initial resistances.