- The dollar presents mixed results on Wednesday, before US holidays.
- Gold in negative, while silver rises modestly.
- The eye returns to the support zone of $1730.
Gold is falling on Wednesday and continues to face negative pressure. In the European session it went as high as $1744, but then approached the daily lows and the key support area of $1730.
The bearish bias remains firm in XAU/USD and a break of $1730 could lead to bearish acceleration, with the next support around $1715. In the opposite direction, a rally above $1750 would ease the bearish tone and provide support for the yellow metal for a possible bullish extension.
Lots of data ahead and then the minutes
The economic calendar in the US is loaded on Wednesday, with various economic reports, and in the American afternoon, the minutes of the last meeting of the Federal Reserve. Among the reports are the order for durable goods, requests for unemployment benefits and consumer confidence.
The Federal Reserve document may have a great impact, although several central bank officials have spoken out these days. Their expressions ratify the need to continue raising interest rates, although without ruling out that they can do so at a softer pace.
The dollar Wednesday trades mixed with stocks rising slightly and Treasury yields sideways. Thursday will be a US holiday.
While gold is trading lower around $1735, the silver It rises 0.50% and settles at $21.20, although after failing to break Tuesday’s highs in the $21.35 zone.
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.
