- Stock rally continues helping commodities.
- Yields on Treasury bonds correct again modestly downward.
- XAU / USD remains bullish and rises for the fourth day in a row.
The Gold rises again and on Tuesday it reaches the fourth day in a row with rises. XAU / USD reached a month-long high at $ 1,816, after bouncing off $ 1805. The context this week, of stability and slight drops in Treasury bond yields, and the continuation of the rally in equity markets continues to be favorable for the precious metal.
After Monday’s rise, the futures of the main Wall Street indices point to a positive opening with advances on average of 0.35%. In Europe, most of the squares are in green, with increases greater than 0.5%, except for the FTSE 100 in London, which operates without changes.
The dollar does not present great variations these days. The low volume contributes to the predominant movements being in ranges and without clear direction. Today in the US will be released the S & P-Shiller home price report and the Richmond Fed index, which are not expected to have a large impact on financial asset prices.
Next strong resistance at $ 1830
Should gold extend the advance and assert itself above $ 1815, the focus of attention could shift to the $ 1830 / $ 35 zone, which is a firm barrier. The break of it would lead to more raises.
In the opposite direction, the area of ​​$ 1795/1800 is the support to consider. A drop below would weaken the outlook for the metal, exposing $ 1784. Then the next support is seen at $ 1769.
Technical levels
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