- Rise in yields and a mixed dollar cap XAU / USD.
- The value of an ounce continues to struggle to stay above $ 1800.
The Gold is trading at $ 1797, at the lowest level of the day, after failing to sustain above $ 1800. In the Asian session, the value of the ounce rose to $ 1807, the maximum in days and then changed trend. In a broader perspective, the price continues to move in a small range between $ 1795 and $ 1810.
The rise in Treasury yields on Wednesday is being a factor that precipitated the change in trend of gold. The 10-year rate is at 1,265%, up 1.61%. The dollar for its part registers mixed results so far this day.
The key event all eyes are pointing towards is the Federal Reserve. Today the two-day meeting will culminate and at 18:00 GMT it will publish the statement. No news is expected regarding announcements and no new macroeconomic projections will be released. The focus will be on clues about the future of the buying program and when the cutback could begin.
What the Fed and Powell say at the press conference can have a broad impact on the market, including rates, and thus lead to volatility in gold.
Key levels
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