- Gold under pressure due to the advance of the dollar and Treasury bond yields.
- XAU/USD pone la mira den 1745/50$.
The oro and the the payment are suffering a significant drop on Thursday, which accelerated in the last hour and after US economic data. The XAU / USD loses more than 2%, trading at $ 1,752, the lowest level in a month.
The combination of a dollar rally in the market after US economic data and the rise in yields are giving the reasons for the collapse of metals. The 10-year rate of the US bond jumped to 1.34%, after having been behind at 1.26% for days. DXY is up 0.48%, trading at 92.95, the highest level since August 27.
Added to Wednesday’s optimistic economic data were Thursday’s Philly Fed and retail sales data, which beat expectations. This occurs in advance of the Federal Reserve decision and increases the chances of clearer signals about the beginning of the cut in the buying program.
From a technical point of view, the next strong support for XAU / USD looms at the $ 1745/50 zone, and down by $ 1,720. To the upside, a return above $ 1,780 could ease downward pressures.
Technical levels
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