Gold Prices Fluctuate with Dollar Strength

Although the peak was refreshed last week, gold experienced a decrease of approximately $120 due to the dollar's gain in strength and relatively calm news flow, failing to sustain above this peak. With tension escalating between Israel and Gaza, gold started the Asian session positively for this week. If this positivity continues, the first resistance level to encounter in gold would be 2351. In case buying pressure pushes the price above this level, the next levels to watch would be the range of 2360-2370 followed by 2395-2405. However, if the price continues downward below the 200-period average, the first support level would be in the range of 2320-2325. If this range is breached downwards, subsequent levels to monitor would be 2300 and 2280.