XAUUSD

The increase of consumer inflation to 2.6% in the US causes the dollar index to appreciate, increasing pressure on gold. Despite the rising expectation of a 25 basis point interest rate cut by the Fed in December, the strengthening of the dollar leads to a depreciation in gold. While the effects of Trump's policies continue, the PPI, unemployment claims, and the speech by Fed Chair Powell to be announced during the day have the potential to impact market movements.

In the short term, spot gold is trading below the 2590 - 2600 resistance area. From a technical perspective, the pullback may continue down to the support levels of 2560 and 2550. The RSI indicator is at 30, indicating that the market is approaching an oversold area, presenting a negative outlook. There was a 0.68% decline compared to the previous day. Unless a sustained movement above the 2590 - 2600 area occurs, the expectation of a decline may persist. However, if this area is surpassed, the resistance levels of 2610 and 2620 may be targeted.