- Gold moves sideways, manages to return above $ 1730.
- The dollar loses momentum in the last hours.
The Gold is rising for the third day in a row, although it shows an unclear direction on Tuesday. The price rose to $ 1737 in hours of the Asian session, the highest level since Thursday and then fell back to $ 1726. It is rising modestly and is trading at $ 1733.
In the last hour, the dollar lost strength in the market favoring the return of gold over $ 1,730. The decline occurs in a context where stocks remain close to Monday’s highs. In turn, Treasury bond yields, they become close to the session lows. The 10-year bond interest rate after hitting 1.61% on Tuesday is back below 1.60%.
The focus of attention shifts to the Federal Reserve meeting that begins Tuesday. On Wednesday the decisions will be known and there will also be the publication of the new macroeconomic projections. DIn any case, the economic calendar is shown with events to take into account on Tuesday, which are the February retail sales report, the industrial production report and data from the real estate sector, among others.
From a technical point of view, the short-term trend is not clear. If it is firmly above $ 1740, a bullish extension could be expected. While on the downside, support is seen at $ 1720.
Technical levels
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