- Gold remains strong and extends advance despite rising yields.
- XAU / USD is ahead of last week’s highs at $ 1795.
Gold extended gains in the preview of the American session and it is trading at 1792.90, the highest level since Tuesday. The price remains firm and is targeting last week’s highs reached in the region of $ 1,795. The break of that level will expose $ 1800.
While XAU / USD rises 0.70% on Monday, silver advances more than 2%. Metals are driven by technical factors, the rebound, the weak dollar and also the good mood in the markets. Wall Street futures point to an open with rises of 0.40% on average for the main indices. In Europe, the stock markets with the highest volume rose between 0.22% and 0.89%.
A slight advance in Treasury yields is not being a problem for gold. To prolong the rises, XAU / USD would break last week’s range and aim to extend the advance to settle above $ 1795. The next major resistance is around $ 1806. A return below $ 1785 would ease the upward pressure.
Technical levels
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