XAUUSD

The U.S. producer inflation data exceeding expectations led to an increase in the dollar index, creating pressure on gold. However, the greater-than-expected rise in jobless claims somewhat eased this pressure. The mixed outlook in Asian markets and the closing losses in U.S. indexes indicate that global economic uncertainties persist. In the Eurozone, the ECB's interest rate cuts and the increase in U.S. 10-year bond yields are among other noteworthy factors in the markets.

Technically, gold is currently trading between the 2673 – 2693 support and resistance levels. Pricing within this range suggests that the decision phase scenario may be valid. On the daily chart, sustained pricing above the 2693 level could reinforce the positive outlook, and the 2700 and 2710 resistance levels could be monitored. Otherwise, pricing below the 2673 level could highlight a negative outlook, potentially leading to a decline towards the 2660 and 2650 support levels. The RSI indicator is just above the 50 level, showing a neutral outlook, which indicates an indecisive trend in the market.