- With no relevant economic data on Wednesday, the focus shifts to Thursday with inflation from China and the US.
- Treasury yields fall slightly.
- Gold remains firm above $1880, with the bullish trend.
The Prayed it marked a new high since early May at $1886 in the European session on Wednesday. XAU/USD is holding firm above $1880, rising for the fourth day in a row.
The advance of the yellow metal occurs with the prices of the markets with limited routes. The dollar is operating in mixed terrain without major changes in the absence of impact economic data and awaiting new signals on the state of the economy.
Thursday will be published US December inflation reading and previously China’s. US data will serve to shape expectations of the Federal Reserve’s monetary policy.
The treasury bond yields They ease back slightly on Wednesday and are far from where they were days ago, reflecting the market’s expectation of a less hawkish Fed. This has been key to the rise in gold.
There are technical indicators warning of overbought levels in gold, which may suggest a pause or correction ahead, but for now, the trend is firm.
The XAU/USD It is ahead of the resistance of $1890 that seems to be the last defense for a return above $1900. Then the next strong resistance is in the $1910/1915 band. On the downside, $1880 can become the first support. Below is the $1870 area, which if it yields would point to a firmer correction, with a possible target at $1862.
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.
