- The XAU/USD pair advanced to $1,980, after reaching $1,995 earlier in the session.
- US real estate data for October was better than expected.
- The Fed’s hawkish comments and the recovery in US yields slowed the rise in metals.
He XAU/USD It saw a slight rebound in the Friday session and is currently trading at $1,980 after reaching a high of $1,995. The rise in prices was slowed by hawkish words from Federal Reserve (Fed) officials following the report of strong US housing data that drove a slight advance in US bond yields. US Treasury.
According to monthly U.S. Census Bureau data released Friday, housing starts in October rose 1.9% from a revised 3.1% rise in September, while building permits rose 1.1%. % in the same period after experiencing a decrease of 4.5% in its previous review.
Regarding the Federal Reserve (Fed), Susan Collins, president of the Federal Reserve Bank of Boston, stated on Friday that she sees signs that suggest that financial conditions remain favorable for the Fed and welcomed the latest cooling of the Fed. inflation. However, she then stated that she would not rule out further tightening, which appears to have spooked the markets.
On the other hand, US bond yields register slight increases. The 2-year yield stands at 4.91%, and the 5- and 10-year yields at 4.46% and 4.45%, respectively. Regarding expectations, markets continue to value that the Fed will not raise rates in December.
XAU/USD levels to watch
On the daily chart, XAU/USD is showing a bullish bias with indicators that, despite a slight slowdown, remain in positive territory. The Relative Strength Index (RSI) shows a positive slope above the 50 threshold, while the Moving Average Convergence Histogram (MACD) exhibits larger green bars. In a broader context, the pair is above the 20-day, 100-day, and 200-day SMA, suggesting that the bulls are in control in a broader context as well.
Supports: $1,975 (20-day SMA), $1,930 (100- and 200-day SMA), $1,915.
Resistances: $2,000, $2,030, $2,050.
XAU/USD daily chart
|Latest price today||1981.81|
|Today I change daily||0.90|
|Today’s daily variation||0.05|
|Today daily opening||1980.91|
|Previous daily high||1988.02|
|Previous daily low||1956.56|
|Previous weekly high||1993.18|
|Previous weekly low||1933.04|
|Previous Monthly High||2009.49|
|Previous monthly low||1810.51|
|Daily Fibonacci 38.2||1976|
|Fibonacci 61.8% daily||1968.58|
|Daily Pivot Point S1||1962.31|
|Daily Pivot Point S2||1943.7|
|Daily Pivot Point S3||1930.85|
|Daily Pivot Point R1||1993.77|
|Daily Pivot Point R2||2006.62|
|Daily Pivot Point R3||2025.23|
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.