Gold Faces Resistance at 2,588 USD, Awaiting Fed Signals
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If it fails to break through this level, the price may correct down to the support zone at 2,530 USD.
The 34 EMA and 89 EMA, located at 2,551 USD and 2,524 USD respectively, are providing support for the bullish trend.
If the price holds above support, gold may continue its rise towards the 2,560 USD level.
The RSI is currently at 75.42, indicating increasing selling pressure. The upcoming Fed meeting decisions will play a crucial role in influencing gold prices.
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