FX.co ★ XAU/USD, GOLD

Hello traders, XAU/USD Demand for gold on pullbacks contributes to the recovery of its quotes. Thus, after testing the support around the $4500 per ounce level, the resistance at $4580 was broken, and the $4620 mark was tested. The nearest support now lies around the $4570 level, above which there is a high chance of breaking the resistance and the metal's quotes rising towards $4680-4720. Losing support will lead to a decline towards $4520-4480 per ounce.