XAUUSD

Although it was observed that the PCE and core PCE price indexes in the US rose in line with expectations, according to CME data, the possibility of a 25 basis point interest rate cut at the December meeting has gained strength. On the other hand, the signing of a ceasefire agreement between Israel and Hezbollah weakened the perception of geopolitical risk, putting pressure on gold. The dollar index remains at low levels, which could contribute to the continued pressure on gold.

From a technical perspective, it is observed that gold is trading below the 2640 - 2650 resistance zone in the short term. As long as it remains below these levels, the downward pressure is likely to continue. In the event of potential declines, the 2620 and 2610 levels can be monitored as support. For upward movements to gain strength, it may be necessary to have 4-hour closings above the 2640 - 2650 region. In this case, a movement range towards the 2660 and 2670 resistance levels could form. The RSI indicator, on the other hand, shows a negative trend.