Gold (XAU/USD) is trading at $2,633.83, up 0.36% in the last session, reflecting steady buying interest. The pivot point at $2,628.47 serves as a crucial support level, with immediate resistance at $2,652.90 and further upside potential capped at $2,675.33. On the downside, the key support levels are at $2,603.83 and $2,584.16, providing short-term protection.
Technical indicators point to a mixed outlook. Gold remains above its 50 EMA at $2,620.80, indicating near-term bullish momentum, but is testing its 200 EMA at $2,632.78, which could limit gains. A sustained break above $2,652.90 could attract further buying, while a decline below $2,628.47 could signal a shift towards bearish sentiment.
Traders should look for a decisive move around $2,628 to confirm the next trend.