XAUUSD

According to the FOMC meeting minutes, members are confident in the reduction of inflation and the resilience of the labor market. The members' cautious stance against rate cuts supports the expectation of a 25 basis point rate cut for December, while gold continues its recovery trend. Throughout the day, growth rate, unemployment claims, and core PCE price index changes can be monitored. While Asian markets exhibit a mixed trend, data flow from the U.S. could impact gold pricing.

Technically, gold is still priced below the 2640 - 2650 range, indicating that the downward pressure may continue. The current support levels are monitored at 2630 and 2620. To see an upward movement, 4-hour closings above the 2640 - 2650 range might be required, targeting the 2660 resistance in such a case. The RSI indicator is at the 45 level, presenting a negative outlook. There is a 0.40% decrease compared to the previous day.