Gold (XAU) Every day Forecast: Greenback Power Pressures Costs as Gold Hits $2,550 Low…

Gold (XAU/USD) is buying and selling round $2,556, down zero.65% for the session, as sellers strain the worth close to its pivot level at $2,551.66. Fast help is seen at $2,529, whereas breaking beneath this might drive the worth down towards $2,506 and even $2,483.

Conversely, if gold maintains help above the $2,551 pivot, we might see a rebound towards resistance ranges at $2,574, $2,604, and probably $2,627.

The 50-day EMA, positioned at $2,650, signifies a broader downtrend. Notably, gold is close to an oversold situation, which, together with a doable double-bottom sample, suggests potential upward motion if help holds.