- High volatility day for gold, it returns to positive territory.
- XAU / USD is close to $ 1900 and testing the 100-day average.
He Gold returned to positive territory after experiencing a bounce greater than $ 20 from the low of the day. The price had fallen to $ 1868, and is trading at $ 1895, slightly below the highs of the Asian session. The impetus came from the loss of strength of the dollar and the rise in stocks.
The major Wall Street indices are on the rise and are trading in record highs. The Dow Jones climbs 0.92%, having accelerated in the last hour. This renewed mood in the markets weakened the dollar and boosted gold.
The precious metal is back near $ 1900, which is short-term resistance to breaking, which could trigger further raises. The bias is still bullish for the current month, stop as mentioned, for now it finds resistance around $ 1900 and the 100-day moving average.
Downward, as long as the XAU / USD remains above $ 1850 it would be a downward correction. A drop below would already point to more weakness ahead and the possibility that the rally is over.
Technical levels
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