- Dollar weakness and falling Treasury yields boost gold.
- XAU / USD exceeds $ 1800, next resistance at $ 1810.
Gold gained momentum and broke a consolidation range of several hours, surpassing $ 1800. The price climbed to $ 1805, reaching a new daily high. The bullish tone remains in place and the next resistance is at the $ 1810 zone.
The Gold’s advance occurs despite the fact that the metal remains in the previous range. The main driver is the decline in the dollar and in Treasury yields. The 10-year bond yielded 1.23%, at the low of the day, while the DXY could not remain in positive territory and operates with a fall of 0.18%, below 92.50.
The June US durable goods order report showed mixed numbers. Prior to these figures, the dollar was retreating and continued in that way later. Consumer confidence figures will be known later. Today begins the two-day meeting of the Federal Reserve.
To the upside, the XAU / USD faces resistance at $ 1810, if it takes hold above it, it would be ready for more raises. A return below $ 1800 would weaken the bullish moment. The key support is at $ 1790, which is a key short-term support whose breakdown would favor a bearish prolongation.
Technical levels
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
