Analysis of today's market

Gold climbed during the North American session on Tuesday with buyers eyeing the $2,700 mark for the first time since November 25. One of the drivers of the rise in the price of the yellow metal is the expectation that the Federal Reserve (Fed) will cut rates at the December meeting. At the time of writing, the XAU/USD trades at $2,698, up by 1.32%.

US economic data revealed during the day hinted that small businesses had grown optimistic about the economy, according to a survey by the National Federation of Independent Business. Nevertheless, traders are focused on the release of US inflation figures on the consumer and the producer sides on Wednesday and Thursday, respectively.

Gold opened at around 2693 and rose to around 2701 at the highest and around 2693 at the lowest before press time.Pay attention to the resistance of 2720-2730-2740 If it fails to break through, it will test 2650-2640-2630