- Gold extends retracement below $ 1820 as the dollar gains momentum.
- US Data Ahead: Retail Sales.
The Gold continued to lose steam on Friday and in the last hour fell below $ 1,820, retreating to $ 1,816, the lowest level since Wednesday. It remains bearish in the US data preview.
The $ 1820 zone is a relevant short-term support, so a confirmation below would leave the precious metal weakened ahead. The next strong support can be seen at $ 1810 and then $ 1790. A return above $ 1,820 would limit the weakness. The next resistance is seen at $ 1,830, which protects the most in almost a month that it reached on Thursday at $ 1,833.
The advance of the dollar and a slight rise in the yields of Treasury bonds, are among the factors that can explain the fall of gold. The rise in Wall Street futures is not being strong support. In the next few hours, the focus will shift to US data, among which the June retail sales report stands out.
The other metal, silver, falls even harder. XAG / USD is losing 0.91% and is approaching the $ 26.00 area.
Technical levels
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