XAUUSD

The nomination of Scott Bessent by President Trump for the Treasury Department has put pressure on the Dollar Index, while gold has been affected by these developments. Bessent is expected to take a more measured approach regarding tax cuts and tariffs, and it is thought that he will act with the aim of ensuring financial stability in the markets. In light of these developments, Asian markets have started the week optimistically, and the rise in US index futures is noteworthy. However, global risk factors such as the Russia-Ukraine tension and major central banks' interest rate policies continue to closely impact the markets.

Technically, gold is currently fluctuating in the 2660 – 2680 range, which forms a critical decision phase. For the upward scenario to be effective, there should be stability above the 2680 level, and in this case, movements towards the 2685 and 2690 resistance levels might be expected. On the other hand, for the downward trend to strengthen, 4-hour closings below the 2660 level might be necessary. In this scenario, the 2650 and 2640 support levels may be brought to attention. The RSI indicator is at 46, displaying a negative outlook, indicating that prices are weak. The change compared to the previous day is notable with a decrease of 1.70%.