GOLD XAUUSD Chart Technical Outlook advances to fresh record highs, with the RSI showing a bearish divergence.
Gold prices are marching higher at record highs above $2,600, fuelled by positive market sentiment. Market expectations of lower borrowing costs in a solid economic context are boosting risk appetite, fuelling demand for Gold, and weighing on the US Dollar.
This view will be tested today with US S&P Manufacturing and services data and the speeches of three Federal Reserve officials. US Durable Goods, Fed Powell´s speech, and Friday’s PCE Prices Index data will set the pair’s near-term direction on Wednesday.
Technical indicators are positive with the overbought levels and bearish divergence on the RSI as a warning for bulls. Resistances are at $2,650 and $2,670. Supports are $2,620 and $2,600.
