- Oro maintains a bearish bias, with limited travels.
- Increase in bond yields Treasury limits down to XAU / USD.
The Gold loses 0.50% so far on Wednesday and fell in European hours to $ 1792, the lowest level since July 12. The metal suffers the third daily decline in a row and maintains the bearish bias.
Tours on Thursday are being limited, prior to the decision of the European Central Bank and from US data, which will include claims for unemployment benefits.
The Stock markets are rising again, which may be a factor limiting the XAU / USD decline. On the other hand, the strong rebound in Treasury yields is pushing it lower. The 10-year rate, which had reached 1.12% on Tuesday, just surpassed 1.30%, returning to Friday’s levels.
The decline in gold has led to the price of below the 20-day moving average which is going for 1797 $. The next support is at $ 1790 and the break could intensify the negative moment. To the upside, at $ 1805 there is the first resistance and then $ 1815 follows.