- Gold rebound remains firm and with momentum in its favor.
- Technical indicators support a bullish scenario, although with signs of overbought in the short term.
- Stability and slight decline in Treasury yields help the XAU / USD rally.
Gold is rising again on Friday and continues the rally that started after falling towards $ 1,750 after the Federal Reserve meeting. XAU / USD hit $ 1,810 on Friday, the highest level in three weeks. It remains near the highs, with the bullish tone intact, with a gain of $ 25 so far this week.
Keep shining
The Gold is on track to have the best week in a month, having rebounded from $ 1,750. If it holds above $ 1800, the bullish tone will remain firm. The next major resistance is seen at the $ 1830 / $ 35 area. In the opposite direction, a return below $ 1790 would draw strength. The next support is seen at $ 1775. A weekly close below $ 1745 would increase the downward pressure.
The advancement of metal continues to be supported by technical issues. From a fundamental point of view it is key stability and slight decline in Treasury yields. The 10-year rate is at 1.43%, below the return it had before the FOMC.
Without economic data ahead, the bond market and the dollar will continue to be decisive for the next few hours, at the close of the last full week of operations. Although several markets will be open all week in the remaining two, on December 24 and 31, a decrease in volume is expected and the closure of several platforms due to a holiday in several countries.
Technical levels
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