- The value of the ounce is experiencing the most significant rise in two weeks.
- XAU / USD is targeting the July highs at $ 1,834.
The Gold is rising for the third day in a row and picked up the pace. The price since the Federal Reserve meeting accumulates an advance of more than $ 20. The value of the ounce reached $ 1,828, the highest level since July 16.
The strong rise occurs before a general weakness of the dollar after the Federal Reserve meeting. Not even the rise in Treasury yields stopped XAU / USD. Important US data including second quarter GDP and jobless claims will be released shortly.
Technical overview
The gold is advancing after having found support above the $ 1790 level, which is a key level, which continues to contain the casualties. The rally that started on Wednesday broke a short-term bearish line that appears to have given further strength to the advance. To the upside, the next resistance looms at $ 1830.
A close above $ 1,835 would put XAU / USD on its way to higher with a possible target in the vicinity of $ 1,850. If it cannot with $ 1830, it will be important for the metal to hold above $ 1810, to continue with the bullish tone.
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