Gold (XAU/USD) is trading slightly lower at $2,621.62, down 0.01%, as the precious metal struggles to stay above the key support level at $2,620.
On the 2-hour chart, the pivot point at $2,624.22 acts as a critical price mark. Immediate resistance is at $2,635.46, while further resistance levels can be seen at $2,644.57 and $2,652.90.
The 50-day EMA is positioned at $2,639.20, just above the current price, indicating potential bearish pressure in the near term.
Conversely, a break above $2,635 would indicate a bullish reversal. Immediate support is at $2,615.20, with additional support at $2,605.62 and $2,594.94. If prices fall below $2,620, selling momentum could accelerate, sending gold lower.