Tonight, the unemployment claims data and preliminary Gross Domestic Product (Prelim GDP q/q) will be the focus of investors.
Unemployment claims and GDP data will determine whether gold is capable of making a new record or not.
The highest level can be reached if the unemployment claims data report shows a lower reading than expected and Prelim GDP shows a higher reading than expected.
Meanwhile, the ongoing Middle East conflict is also expected to give an advantage to the gold market price.
On the XAU/USD daily chart that measures the value against the US dollar where the price is around the 2516.00 level.
If the price wants to increase, we can wait for the 2529.00 zone for the price to test at that level.
If the price wants to go down, we can see the price reaction at the level of 2507.00.
The 2496.00 level will be the focus for price to test the zone if the price manages to break through the 2507.00 price.
