- Metals receding before the dollar rises throughout the market.
- Gold pulls away from recent highs above $1,780 and tests $1,760.
- Wall Street futures in the red, general correction in progress.
The Prayed it is falling for the second day in a row, and is away from the three-month high it hit on Tuesday at $1,786. XAUUSD broke below $1770 on Thursday and fell to $1761, the lowest since Monday.
The strength of dollar coupled with a decline in equity markets, while Treasuries are flat, make for a combination of negative factors for gold.
The XAUUSD retracement at the moment stopped above $1760, which is the critical very short-term support. If it loses that level, more bearish pressure would be expected, with a target of $1,750. A return above $1770 could change the intraday trend.
The silver it is also affected on Thursday and falls 1.75% so far on Thursday. XAGUSD fell to $20.87, the lowest in a week before bouncing and cutting losses to rise above $21.00.
The economic calendar shows US data ahead with the jobless claims report, the Philly Fed manufacturing survey, housing starts and building permits. Stated publicly by Federal Reserve officials Bownman and Jefferson.
technical levels
XAU/USD
Overview | |
---|---|
Today’s last price | 1762.25 |
Today Daily Change | -12.07 |
Today Daily Change % | -0.68 |
Today daily open | 1774.32 |
trends | |
---|---|
Daily SMA20 | 1686.4 |
Daily SMA50 | 1679.63 |
Daily SMA100 | 1713.68 |
Daily SMA200 | 1802.83 |
levels | |
---|---|
Previous Daily High | 1785.09 |
Previous Daily Low | 1770.41 |
Previous Weekly High | 1768.17 |
Previous Weekly Low | 1664.76 |
Previous Monthly High | 1729.58 |
Previous Monthly Low | 1617.35 |
Daily Fibonacci 38.2% | 1776.02 |
Daily Fibonacci 61.8% | 1779.48 |
Daily Pivot Point S1 | 1768.12 |
Daily Pivot Point S2 | 1761.93 |
Daily Pivot Point S3 | 1753.44 |
Daily Pivot Point R1 | 1782.8 |
Daily Pivot Point R2 | 1791.29 |
Daily Pivot Point R3 | 1797.48 |
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.