Gold Price Shows Positive Momentum but Stays Below Key Resistance
Gold Price Trends Early This Week
The gold price, designated as XAU/USD, kicked off the new week with a mild positive trend. After a slight rebound from the $2,614-$2,613 area last Friday, the price attracted dip-buyers eager to capitalize on the current market conditions. Despite this upward movement, the price remains below a critical resistance barrier of $2,650.
This situation follows the recent US Nonfarm Payrolls report, which reaffirmed market expectations for lower borrowing costs from the Federal Reserve in December. Investors are closely monitoring these developments as they can significantly impact commodity prices.
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