- After a pause in the Asian session, metals resumed their bullish journey.
- XAU / USD is breaking through the resistance at $ 1775.
Gold is trading at $ 1,781, the highest level since late February. Metals after a pause in the Asian session resumed the bullish trend that began on Thursday. The XAU / USD accumulates a rise of $ 35 in the last 24 hours.
The bullish tone remains intact in the yellow metal, even despite the extension of the rally. The support, first above $ 1755 and now above $ 1775, two relevant resistances, continues to support more rises.
The key factor on Thursday was the drop in Treasury yields. The 10-year rate is retreating again on Friday, although it is still above yesterday’s lows. It also contributes that the dollar is seen with some weakness in the market and that the stock markets continue to rise.
XAU / USD is up almost 1% so far on Friday and XAG / USD (silver) is up 1.60%. They both move with a strong bullish tone. The next strong resistance for gold appears at $ 1800, with an intermediate zone at $ 1789.
Technical levels
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