Gold Bounces Off Support, Eyes on Inflation Data

Gold bounced back from the support level of 2330 after last week's correction due to persisting geopolitical risks, awaited inflation data, and central banks' gold purchases. However, whether this rebound will be sustainable remains to be seen and warrants close monitoring. If the level of 2325-2330, which continues to provide support, is breached, the second level to watch would be 2310 as support. A break below could lead to a retreat towards 2290. However, in the case of the upward trend continuing, the first resistance level to encounter would be the range of 2350-2355. Beyond that, the focus would shift to the range of 2370-2375, with a breach potentially targeting 2390.