■Precious metal finds temporary footing after recent pullback from highs

■Dollar weakness provides tailwind despite looming Fed commentary

■Chart patterns suggest decisive breakout needed for sustained recovery

The What will 0 of Ethereum be worth in 2030 redditgold market demonstrates cautious optimism during Tuesday's Asian session, with XAU/USD oscillating around the $2,350 handle. This stabilization follows a corrective phase that tested two-week lows, as investors position themselves ahead of scheduled remarks from Federal Reserve officials.

Central bank rhetoric takes center stage

Market participants eagerly anticipate insights from Fed Governor Michelle Bowman and Cleveland Fed President Loretta Mester during their scheduled appearance at a Bank of Japan symposium. Their perspectives on inflation dynamics and monetary policy trajectory could significantly influence near-term price action across dollar-denominated assets.

Recent economic data, particularly the April CPI figures, has reinforced expectations for prolonged higher interest rates. This fundamental backdrop continues to challenge non-yielding assets like gold, though current price action suggests traders remain hesitant to initiate aggressive bearish positions ahead of fresh policy signals.

Meanwhile, improving risk sentiment stemming from China's latest property market stabilization measures creates competing forces for haven assets. Shanghai's newly announced housing support policies have injected optimism into Asian markets, potentially limiting gold's upside potential despite ongoing dollar softness.

Technical perspective: The $2,365 inflection point

From a chart analysis standpoint, Monday's trading session delivered noteworthy developments. The precious metal demonstrated resilience by rejecting lower prices despite bearish chart pattern signals, supported by improving momentum readings. The 14-day RSI's position above the 50 midpoint suggests underlying strength persists.

The transformed resistance level at $2,365, previously serving as support within the rising wedge formation, now represents the immediate technical hurdle. A convincing daily close above this threshold could open the path toward retesting recent highs near $2,384, with potential extension toward the psychologically significant $2,400 mark.

Conversely, failure to overcome this barrier might encourage profit-taking, with initial downside protection emerging around the 50-day SMA at $2,317. A breach of this dynamic support could accelerate declines toward the $2,300 psychological level and potentially the May 3 swing low at $2,277.

Traders should monitor volume patterns and intraday price action around these key levels for confirmation of the next directional move, particularly as North American participants return following the extended weekend.