XAU / USD extends correction towards $ 1,820 after failing to reach $ 1,833

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  • The dollar regains ground and gold corrects down.
  • XAU / USD is moving back towards $ 1,820 at a slow pace.
  • The dollar index rises after four days of declines.

The Gold is falling on Monday after jumping to $ 1,833 on Friday, matching the July high. After not being able to overcome the important barrier around that level, a retracement began and is still ongoing. It recently set a new low for the day at $ 1,822.

The precious metal corrects down, in a context of low volatility, and the recovery of the dollar. The Dollar index (DXY) after losing ground for four days in a row, you are rising and trading at 92.25. At the same time, the equity markets in the world are in the green.

Monday’s US holiday is expected to deplete trading volume, contributing to limited tours and ranges.

Strong barrier around $ 1833

Technically the XAU / USD still maintains some bullish strength, which could be weakened with a drop below $ 1815. Below I will follow the next support at $ 1805. A return of that level, would point to lower, especially if it yields $ 1800.

To the upside, above $ 1829 gold could regain luster in the very short term, but in a broader perspective it needs to break and assert itself above the strong $ 1830/35 barrier. If he succeeds in doing so, the road to $ 1,850 would be ready.

Technical levels

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