XAU / USD marks three-month highs but fails to gain a foothold above $ 1,850

  • Gold with a bullish tone, but still unable to consolidate above the $ 1,850 area.
  • The dollar with mixed results, yields rebound.

The Gold is rising on Monday, although it trimmed gains in recent hours. The XAU / USD price climbed to $ 1,855 an ounce, reaching the highest level since mid-February and is trading at $ 1,848.

The retracement manifested an impossibility for the moment of gold to affirm above $ 1,850, a relevant technical zone, where a trend line can be seen from last year’s peak and also very close to the 200-day moving average. A confirmation above, would point to more raises. Whereas if it cannot be affirmed, the bullish outlook will be complicated.

The advance on Monday also occurred in the price of silver. XAG / USD reached as high as 27.77, the highest in a week, before returning to the $ 27.60 zone. The drop in Treasury yields had boosted metals, but in the last few hours, they rebounded, taking out metals. The 10-year rate rebounded after touching 1.60% and is at 1.63%.

Looking ahead to the next few hours, what happens with the yields and with the $ 1,850 zone in gold will be key. The dollar presents mixed results in the market, advancing against those linked to commodities and some emerging markets, although falling against the yen, the Swiss franc and the euro.

Technical levels

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