- The XAU / USD wins for the second day in a row.
- Gold rises $ 50 in two days, remains at one-week highs.
Gold prices they rose modestly on Wednesday, consolidating the rebound from multi-month lows. The XAU / USD It peaked during the European session at $ 1,831 / oz, the highest level since November 23, and then fell back to find support above $ 1,810.
During the last few hours, gold has moved sideways consolidating recent gains, trading around $ 1,820. Tuesday’s close above $ 1,800 added support to the recovery from Monday’s low of $ 1,764, the weakest level since early July.
The upward movement was probably limited by higher yields in the United States. The 10-year yield stands at 0.95%, the highest level in three weeks. The DXY is trading flat around 91.20.
Next key level: $ 1,850
Gold’s positive momentum remains intact in the very short term. Above $ 1,820, more gains appear likely. The next critical level is the $ 1,850 zone, the previous key support. If the metal rises above, it would get relevant support to extend gains.
On the other hand, a decline below $ 1,800 would expose the recent low in the $ 1,765 area.
Technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
