Following Wednesday’s impressive rebound, the Gold (XAU / USD) has retained its bullish momentum in the first half of Thursday and has touched the $ 1,800 level for the first time since mid-September.
At the time of writing, the XAU / USD is up 0.39% on the day, trading at $ 1,800.01.
Falling US Treasury yields appear to be fueling the gold rally in the second half of the week. After bond markets returned to action on Tuesday, the yield on 10-year US Treasuries lost nearly 6%. At the time of writing, it is down 0.9% on the day, trading at around 1.525%.
In addition, the poor performance of US Treasury yields continues weighing on the USD, with the US Dollar DXY index falling to fresh 10-day lows near 93.80.
Later in the session, weekly data for initial jobless claims and the PPI producer price index for September stand out on the US economic calendar.
15 minute chart gold
Gold technical levels
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