- Fed minutes hurt dollar and boost metals.
- Lower Treasury yields give the yellow metal extra support.
- $1750 area is the new short-term support.
Gold was helped by the Federal Reserve minutes released on Wednesday, which led it to break above $1,750. XAU/USD recently reached as high as $1758the highest level since last Friday.
The price remains in the high zone with a bullish tone intact, although the rallies have run into resistance below $1760. In case of breaking above said level, the next relevant resistance can be located at $1768 and then $1775 will follow.
In the opposite direction, the first support is seen at $1750. Below is $1745, where a confirmation below could turn the tone from very short term to negative, exposing next support at $1735.
The dollar is still weak
The XAU/USD rally began on Wednesday after the release of US economic data and took firmer after the Federal Reserve minutes. The document was “less hawkish” which generated a negative reaction in the dollar and a drop in Treasury yields. The document showed that Fed officials could target a hike of less than 50 basis points at the next meeting on December 13-14.
The dollar index (DXY) it falls 0.17% on Thursday, losing ground for the third day in a row. The volume of operations in the next few hours could tend to decrease considering that it is a holiday in the US for Thanksgiving.
technical levels
XAU/USD
Panorama | |
---|---|
Last Price Today | 1758.33 |
Today’s Daily Change | 7.01 |
Today’s Daily Change % | 0.40 |
Today’s Daily Open | 1751.32 |
Trends | |
---|---|
20 Daily SMA | 1710.79 |
SMA of 50 Daily | 1683.46 |
SMA of 100 Daily | 1711.79 |
SMA of 200 Daily | 1800.3 |
levels | |
---|---|
Previous Daily High | 1753.49 |
Minimum Previous Daily | 1721.23 |
Previous Weekly High | 1786.55 |
Previous Weekly Minimum | 1747.6 |
Maximum Prior Monthly | 1729.58 |
Minimum Prior Monthly | 1617.35 |
Daily Fibonacci 38.2% | 1741.17 |
Daily Fibonacci 61.8% | 1733.55 |
Daily Pivot Point S1 | 1730.54 |
Daily Pivot Point S2 | 1709.75 |
Daily Pivot Point S3 | 1698.28 |
Daily Pivot Point R1 | 1762.8 |
Daily Pivot Point R2 | 1774.27 |
Daily Pivot Point R3 | 1795.06 |
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.