Gold (XAU/USD) is buying and selling round $2,556, down 0.65% on the session, as sellers put strain on the worth close to the pivot level at $2,551.66. Speedy help is seen at USD 2,529, whereas a decline under might see the worth drop in direction of USD 2,506 and even USD 2,483.
Conversely, if gold maintains help above the $2,551 pivot, we might see a restoration in direction of resistance ranges at $2,574, $2,604 and probably $2,627.
The 50-day EMA, positioned at $2,650, signifies a broader downtrend. Notably, gold is nearly in an oversold state, which, together with a potential double backside sample, suggests potential upside if help holds.