GOLD XAUUSD Chart Technical Outlook Gold (XAU/USD) corrects lower toward $2,363 on hawkish Fed
Gold’s broad bias is bullish. Prices had printed a higher high yesterday but failed to stay at the high ground, trimming the early gains. Overbought and bearish divergence are seen in intraday charts, weighing on the yellow metal. It has room for mild losses toward yesterday’s low.
Hawkish comments from Fed officials support the USD, which offsets geopolitical risks and pushes the asset lower. I expect a corrective pullback to $2,363. If broken, $2,343 would be the following barrier. Dips should find buyers. Resistances are located at $2,400 and $2,430.
