Gold price resumed its uptrend on Wednesday after diving to a weekly low of $2,163 on Monday, capitalized by buyers, which lifted the yellow metal prices near the $2,200 figure. The Relative Strength Index (RSI), aiming higher, suggests that bullish momentum builds, If traders clear the aforementioned level, a test of the all-time high at $2,223 is on the cards.
On the flip side, if sellers push prices below the December 4 high, which turned support at $2,146, that could exacerbate a sell-off and send XAU/USD prices diving toward $2,100. The next support would be the December 28 high, which is $2,088
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