Gold price holds previous gains below record high, as traders digest Israel-Iran geopolitical risks.
The Dollar pauses recovery amid risk reset, ahead of US ADP data and Fed speak. The daily technical setup favors Gold buyers, as the RSI stays firm in the bullish zone. Gold price is consolidating the previous recovery near $2,660 in Asian trading on Wednesday, aa buyers catch a breather amid the Iran-Israel geopolitical escalation while awaiting the key US ADP Employment Change data and a flurry of speeches from US Fed eral Reserve policymakers.
00, despite turning slightly lower. Gold price needs to yield a daily candlestick closing above the static resistance near $2,670 for a renewed upside. The next resistance is aligned at the record high of $2,686. Further up, buyers will target the $2,700 round level, followed by the rising trendline resistance at $2,730. Alternatively, if Gold sellers flex their muscles, acceptance below the September 24 low of $2,623 is critical to unleashing further downside toward the $2,600 threshold.
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