Gold is currently on an exciting "adventure." After a sharp rise to 2,735 USD, it seems to be taking a break near the 2,725 USD support level. It's like gold is catching its breath before continuing its climb to new peaks around 2,742 - 2,750 USD.
The EMA 34 and EMA 89 lines are providing strong long-term support. However, the gold market can be unpredictable, and a "slip" could occur if strong resistance is met.
Traders should stay alert to rising U.S. bond yields offsetting geopolitical tensions in the Middle East and the U.S. presidential election.