Gold Faces Selling Pressure at Key Support Level

13 ชั่วโมงที่ผ่านมา

Gold prices rose slightly during the Asian session on Thursday but are facing downward pressure from record highs due to concerns about the U.S. election and expectations of rising interest rates supporting the dollar.

The current XAUUSD chart shows the market adjusting within a long-term uptrend, with selling pressure emerging as prices approach the critical support level at 2,710 USD.

The descending trendline poses a barrier to price recovery, while the EMA(34) and EMA(89) lines provide important technical support levels.

At present, this support zone is crucial, and if the price holds, the chances of recovery will be strengthened amidst the short-term correction.