- Metals erase Wednesday’s gains and retreat.
- Rise in the dollar, a fall in stock markets and a slight rebound in yields hold back the XAU / USD.
Gold is falling on Thursday, ahead of the release of several US economic reports. The metal, having approached $ 1,910, again failed to break above it and plummeted to $ 1,890, the lowest level in nearly $ 1,890. a week.
The XAU / USD is trading at $ 1892, with a bearish bias and looks pressured to the downside, in a context of falling stocks and rising dollar. The DXY is back over 90.00. Wall Street futures point to an open with falls of 0.45% on average.
This comes before several relevant economic reports to be known in the US First it will be the ADP private sector employment report (12:15 GMT) and then the weekly report of requests for unemployment benefits (12:30 GMT) . Later it will be the ISM of services. Several Federal Reserve officials – Bostic, Kaplan, Harker and Quarles – are scheduled to give public presentations.
Without power with 1910 $, the correction appears
Gold could not with $ 1910 and now it looks weakened. For now, the correction is held back by $ 1887/90, and the break of this level could lead to an extension towards $ 1872, with intermediate support at $ 1878.
A return above $ 1905 would ease the pressure, while a close above $ 1910 could enable more raises to new highs in months.
Technical levels
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