- Gold rises after a two-day correction.
- Lower dollar and Treasury yields favor XAU/USD.
- Important data is coming from the US.
The Prayed resumes the rises on Wednesday after two consecutive setbacks. Ahead of major US economic data, XAU/USD is trading near the area of daily highs around $1,915. Hours ago, the price was below $1,900.
In hours of the Asian session, gold bottomed out on Wednesday at $1895, the lowest level since Friday. After which he began an ascent, which stopped at $1916. The intraday tone remains bullish, targeting the next resistance which can be seen at $1920.
The advance of the yellow metal occurs before a general decline in the dollar and in Treasury yields. The DXY is back below 102.00, very close to the lows in months. The focus of the market is focusing on what will be the next economic data.
The calendar is loaded in the US on Wednesday with reports of retail sales, industrial production and wholesale inflation. These figures have the potential to impact the market.
In addition, on Wednesday several officials from the Federal Reserve. Raphael Bostic of the Atlanta Fed, James Bullard of St. Louis and Esther George of Kansas.
technical levels
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
