Gold Holds Steady Above $2,040 Amid Market Volatility

Gold Maintains Position Amidst Fluctuating Market Sentiment:

🔄 In the midst of fluctuating market sentiment.
💪 Spot Gold manages to maintain its position above $2,040 per troy ounce.
Resilient US Dollar and Mixed Economic Indicators:

💵 Resilient US Dollar and mixed economic indicators influence market sentiment.
📉 Dollar initially gains traction favored by Wall Street's lackluster performance and softer Treasury yields.
🔄 Shift in direction follows mixed US data, with GDP figures slightly below estimates and declining bond yields.
Investor Confidence Bounces Back on Wall Street:

📈 Despite GDP figures and declining bond yields, investor confidence bounces back on Wall Street.
👀 Attention now turns to upcoming US economic releases, including the Core PCE Price Index and Michigan Consumer Sentiment Index.
Gold's Resilience Amidst Uncertain Landscape:

💪 Gold remains resilient amidst the market's uncertain landscape.
Thursday's XAU/USD Movement:

⬆️ On Thursday, XAU/USD moved slightly higher and reached the upper band of the Bollinger Bands.
⬇️ Currently, the price is moving just below the upper band, suggesting a potential another upward movement.

Relative Strength Index (RSI):

⚖️ The Relative Strength Index (RSI) stands at 63.
😐 Signaling a neutral outlook for this pair.

Key Technical Levels:

🚀 Resistance levels: $2,050, $2,068.
📉 Support levels: $2,031, $2,008.