Gold Price: Key levels to watch

Our Technical Confluence Indicator shows that the Gold price grinds higher towards the $2,010 resistance confluence comprising the previous monthly high.

Also acting as an upside filter is the $2,014 mark which encompasses Fibonacci 23.6% on one-week.

Following that, Pivot Point one-day R2, Fibonacci 161.8% on one-day and Pivot Point one-day R3 can challenge the Gold buyers around $2,016, $2,020 and $2025 in that order.

Meanwhile, pullback moves have multiple hurdles to the south before welcoming the XAU/USD bears.

Among them, SMA10 on 4H and 10-HMA restrict the immediate downside of the Gold price near $1,998 and $1,995 respectively.

Should the XAU/USD price remains bearish past $1,995, Fibonacci 61.8% on one week, around $1,982, can act as the last defense of the Gold buyers.