XAU / USD bounces after hitting four-week lows at $ 1,767

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  • Gold is still under pressure, manages to recover $ 1770.
  • The dollar remains in ranges throughout the market in a calm day.
  • Treasury Bond Yields Up Slightly.

The Gold is falling on Thursday although it managed to move away from the lows in the last two hours and cut losses. XAU / USD fell to $ 1,767, reaching the lowest level since November 3 and then rebounding. It is trading around $ 1775, trying to ease downward pressures.

The bias is still negative for the yellow metal. The key short-term resistance can be seen around $ 1780, which in addition to being a horizontal level is where the 20-hour average is passing, and a bearish line originating from Tuesday’s highs. The break of that level could boost the XAU / USD. In case of not being able to return above, that zone, can be the limit of the recovery.

The dollar Thursday is falling moderately. Most of the major crossings show limited tours and ranges. Stock markets are also calm, making gold one of the most moving assets on Thursday.

With regard to economic data ahead, on Thursday the weekly report of requests for unemployment benefits stands out. On Friday it will be the turn of the official employment report, with the non-farm payrolls and the unemployment rate. These figures could have a great impact on the dollar, on bonds and, therefore, on gold.

Technical levels

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