XAU/USD Bullish Analysis for Today

Moving Averages: The 50-day and 200-day moving averages are indicating an uptrend, with the price currently trading above both levels, signaling continued bullish momentum.
RSI: The Relative Strength Index is approaching overbought territory but remains below the 70 level, suggesting that the current uptrend still has room to run.
Support and Resistance: The immediate support level is around $1,930, while the next major resistance is near $1,960. A break above this resistance could lead to further gains towards $1,980 or higher.
Fundamental Factors:
US Dollar Weakness: Recent economic data suggests potential slowing in the US economy, leading to a weaker USD. This has boosted gold prices as investors seek safe-haven assets.
Geopolitical Tensions: Heightened geopolitical risks are also contributing to increased demand for gold, further supporting its bullish trend.
Interest Rates: With the Federal Reserve maintaining a cautious stance on interest rate hikes, real yields remain low, making gold more attractive.
Market Sentiment:
Overall market sentiment towards gold is positive, with traders anticipating further upside potential. The bullish outlook is reinforced by strong buying interest and consistent inflows into gold ETFs.
In summary, XAU/USD is expected to maintain its bullish trajectory today, with potential for further gains if key resistance levels are breached. Traders should monitor economic data releases and any shifts in global risk sentiment, which could impact gold's price direction.
（Source from: TV-By ZUTIPROTARDE）