Gold Sees Profit-Taking Amid Easing Geopolitical Risks

The temporary easing of geopolitical risks in the Middle East brought about profit-taking in the yellow metal. The safe-haven perception continues in gold, diverging from pricing correlation on the macroeconomic data front. Technically, if the support zone of #2351/53 is broken, further selling pressure could be expected towards the $2334 level. On the upside, $2376 is the first correction level, then 2387 could be seen as the resistance level.