Gold is trading lower today at $2,672.70, down 0.44%, as the precious metal is under pressure around a pivot point of $2,668.55. If gold holds above this level, we could see a bullish rebound, with immediate resistance at $2,683.83 and further hurdles at $2,696.64 and $2,709.14.
However, a dip below $2,668.55 could indicate more downside, with key support at $2,654.34 and additional levels at $2,643.35 and $2,632.75.
The technical indicators show a challenging path ahead, with the 50-day EMA at $2,697.33 and the 200-day EMA at $2,711.69 adding to the overhead resistance. For now, sentiment is leaning bullish above the pivot, but caution is advised if prices fall below this level.