📊 Product: XAU/USD 📉 Prediction: Decrease Fundamental Analysis: On Monday (October 15) during the European and American trading sessions, gold prices dropped by nearly $23 from their peak. Reports from the US media suggested that Israel might avoid attacking Iran’s oil infrastructure, easing concerns over tensions in the Middle East. This reduced the demand for gold as a safe-haven asset. After reaching a daily high of $2,666 per ounce, gold prices fell as the US dollar continued to strengthen. Geopolitical factors will keep influencing gold prices. Reports revealed that Israel held security meetings to decide how to respond to attacks from Iran and Hezbollah on Tel Aviv. Israeli Prime Minister Benjamin Netanyahu informed the Biden administration that he would be willing to target Iran's military facilities instead of its oil or nuclear sites. The cooling of market fears on Monday led to a decrease in safe-haven buying, contributing to gold’s price decline. Technical Analysis: Although gold prices have dropped from around $2,660 to the $2,650 level, the overall upward trend remains intact. The momentum is still bullish, as indicated by the Relative Strength Index (RSI), though the RSI has slightly decreased, suggesting some selling pressure. If gold stays below $2,650 per ounce, it could pave the way for further declines. The next key support is at $2,600. A break below this level would target the 50-day Simple Moving Average (SMA) at $2,550. On the upside, a break above the October 4 high of $2,670 could open the way to challenge this year's high at $2,685, with the next target at $2,700. Register account: https://41p9t7wkj.kvbii.com #KVB #KVBOfficial #KVBGlobal #kVBBroker #KVBEconomicCalendar #KVBNews #EconomicCalendar #MarketUpdates #stockexchange #stockmarketnews #stock #stockmarket #tradingstocks #investment #marketvalue #dividendstocks #financial #economy #inflation #socialstudies