XAUUSD Analysis 28-October-2024

After the markets closed on Friday night, Israel launched an attack against Iran. However, the markets were affected by this attack due to its small size. Although the ounce of gold fell at the opening of the new week, it recovered again during the day.

Despite the US 10-year interest rate approaching 4.30%, we see that the ounce of gold is still strong.

Technically, we are watching the 2750 region as short-term resistance. We may see partial pressure under this resistance.

Below, the 2715 and 2680 levels are in support positions. We may see buying demand in declines towards these levels.