XAUUSD

The limited change in the Dollar Index on the last trading day has led to the easing of pressure on gold. Although the Dollar Index has shown a strong trend recently, driven by the U.S. economic data and political developments, it exhibited a flat outlook on the last day of the year. Mixed trends were observed in the Asian markets, while the economic data from China falling short of expectations did not create a positive impact on the markets. Under these conditions, gold is attempting to gain value and is trading around the 2600 level.

From a technical perspective, gold is trying to stay above the 2605 level on the 4-hour chart. As long as gold prices trade below the 2610 – 2625 resistance area, the downward pressure may continue. In downward movements, the 2605 and 2597 levels can be monitored as support. For an upward movement to dominate, 4-hour closings above the 2610 level should be tracked. In this case, a movement area towards the 2633 and 2640 resistance levels may form. The RSI indicator is at the 48 level, exhibiting a neutral outlook and showing a slight decrease of 0.05% compared to the previous day.