- Gold loses more than $10, after jumping to $1,825.
- Volatile day due to a sharp fall in the equity markets.
Gold is trading back in negative territory after losing ground gaining in a short time. XAU/USD had jumped from near $1,800 to $1,825 marking a new daily high, but failed to validate the bounce and is back below $1,815
still under pressure
Hours ago, gold traded at $1,802, the lowest level since mid-May. Then he had a strong rebound, but it didn’t last. Should it break down and firm below $1,805, we would expect $1,800 to give way, exposing the next support at $1,785, the May low. To the upside, a firm return above $1835, where a bearish line is passing through, would relieve short-term prisons.
The yellow metal is weakened in a context of risk aversion and where most commodities are falling. Wall Street indices fall more than 1.30%.
Lower Treasury yields are one factor helping gold limit the slide. The 10-year bond yields 3.01%, the lowest in a week, and the 30-year bond yields 3.14%, the lowest level in 20 days.
|Last Price Today||1815.8|
|Today’s Daily Change||-1.83|
|Today’s Daily Change %||-0.10|
|Today’s Daily Opening||1817.63|
|20 Daily SMA||1838.05|
|50 Daily SMA||1852.77|
|100 Daily SMA||1891.98|
|200 Daily SMA||1844.92|
|Previous Daily High||1833.11|
|Previous Daily Minimum||1812.09|
|Previous Maximum Weekly||1847.95|
|Previous Weekly Minimum||1816.99|
|Monthly Prior Maximum||1909.83|
|Previous Monthly Minimum||1786.94|
|Daily Fibonacci 38.2%||1820.12|
|Daily Fibonacci 61.8%||1825.08|
|Daily Pivot Point S1||1808.78|
|Daily Pivot Point S2||1799.92|
|Daily Pivot Point S3||1787.76|
|Daily Pivot Point R1||1829.8|
|Daily Pivot Point R2||1841.96|
|Daily Pivot Point R3||1850.82|
Source: Fx Street
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.