- Gold rises again after two days with falls.
- XAU/USD continues to face strong resistance at $1830, with support above $1810.
The oro is rising on Monday after rebounding fueled in part by a dollar pullback. The metal fell in the Asian session to $1,812, the lowest since Thursday, but then bounced back to as high as $1,823 in the European session. It’s hovering around $1820, validating daily gains.
The upward momentum is given by a moderate decline in the dollar. DXY loses 0.07% after Friday’s jump. Both the Treasury bond market and the US stock market will not open on Monday due to a holiday (Martin Luther King Jr. Day). This may detract even more volume from Monday’s session.
Still held at $1830
From a technical point of view, XAU/USD is in consolidation mode after last week’s rally. The current range is between $1,830 and $1,810. The confirmed break of $1,830 will leave the way open for further rallies, with a possible target in the $1,845 area.
Heading south, a return below $1815 would put the $1810 zone at risk. The break would leave room for a bearish extension with a possible target near $1800.
Technical levels
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