- After a major plunge to $40, gold rose modestly on Tuesday.
- The dollar operates without relevant changes and Wall Street futures with slight losses.
The Prayed it is rising modestly on Tuesday, erasing a very small part of Monday’s losses. XAU/USD is trading in the area of daily highs around $1,775, after bottoming out on Monday at $1,765, the low since Wednesday.
The yellow metal panorama of very short-term change on Monday with the plunge from highs in months above $1810. The drop from the peak was over $40 and dealt a blow to bullish expectations. The $1785 area is once again a resistance to consider. While in the opposite direction, between $1760 and $1765, a support band can be seen, which if it gives way would lead to an extension of the bearish correction, with the next support at $1747.
No data, focus on fixed and variable income
The economic calendar for the US for the rest of the day is light, with the foreign trade report for October and the Redbook index standing out. No impact is expected from these data. The focus is already focusing on what will be the Fed meeting next week on the 13th and 14th. On the 13th, the inflation data for November will also be published.
For the next few hours, traders will be attentive to what happens on Wall Street and with raw materials in general. The futures of the main indices of the US stock market are barely in negative territory. The bond market is calm without major changes.
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.
