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XAUUSD is looking for new support levels.
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Gold prices hit their highest level in more than a week on Tuesday. Gold prices surged a day earlier as conflicts in the Middle East heightened market uncertainty, while dovish comments from top Federal Reserve officials weighed on the dollar and bond yields.
Spot gold is currently consolidating at a high level, climbing to 1865 earlier, the highest since September 29. If gold prices break through 1865, it may trigger a new uptrend in gold prices and rise towards the key resistance level of 1880, which is also the confluence point of the 100-period SMA and the highs of September 28 and 29.
Currently maintained at the 1860 area, this area will become the new support position of XAUUSD and gradually rise.
Spot gold is currently consolidating at a high level, climbing to 1865 earlier, the highest since September 29. If gold prices break through 1865, it may trigger a new uptrend in gold prices and rise towards the key resistance level of 1880, which is also the confluence point of the 100-period SMA and the highs of September 28 and 29.
Currently maintained at the 1860 area, this area will become the new support position of XAUUSD and gradually rise.
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