An additional indication favoring an increase in XAU/USD rates would be the examination of the support line on the relative strength index (RSI). Another signal would be a bounce back from the lower boundary of the bullish channel. If there's a reversal in plans to boost Gold prices on March 12, 2024, resulting in a decline and penetration of the 2095 level, it suggests a breakdown in the support zone, leading to a sustained drop in asset prices towards the vicinity below 2045. Anticipate a surge in the growth of XAU/USD rates following a breach of the resistance zone, with closing prices surpassing the 2215 mark.
It's assumed there will be an effort to initiate a price correction and test the support region around the 2150 level. Additionally, expect ongoing expansion in the quotes of the precious metal, targeting a level above 2265. Should the plan to hike Gold prices be scrapped, it would lead to a devaluation of the asset in the markets and a breach of the 2095 level, indicating a continued downtrend in the price of Gold, possibly targeting below the 2045 level.