XAU/USD Technical Analysis 18.01.2024

We started the day in gold with a 0.43% increase from the 2014-dollar pricing. It reached the major rising trend support after failing to maintain above 2080 dollars and experienced a downward break. Currently, it is undergoing a retest of this broken trend. If it faces rejection from this point, a decline down to 1987 dollars may occur. In the event of any developments related to political reasons, positive pricing in gold can be observed.