- US and Canadian employment data beat expectations.
- The dollar falls on sharp decline in Treasury yields.
- Gold climbs as high as $1,853 before running out of steam.
The Prayed It rose after the publication of the December employment report in the United States, going from $1835 to $1853, in a few minutes. The rise for the moment was contained by the area of ​​$1850.
The advance of the yellow metal occurred after learning that the US economy created 223,000 jobs in December, exceeding the market consensus of 200,000. The unemployment rate dropped to 3.5%.
Following the figures, the dollar lost ground and Treasury bonds rose. The yield of the 10-year bond went from 3.75% to 3.67%, marking minimums in two days. The drop in yields favored gold and also silver.
Stocks on Wall Street reacted positively to the data. The Petroleum also benefited. In minutes, Wall Street will begin to operate and will serve to see if the direction taken by metals and the dollar is confirmed or if there is a reversal.
The critical support of Prayed it is at $1830, although at the moment it is above another important level which is $1842. To the upside, XAU/USD needs to confirm above $1850 to gain momentum and go looking for weekly highs at $1865.
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.
