- A reversal of the US dollar across the board triggered a rally in XAU / USD.
- Gold jumped $ 20 from the low, hitting a new daily high at $ 1,830.
Metals hit new daily highs, offering a completely different scenario than hours ago. Gold previously bottomed at $ 1,810 and when it looked ready to extend the slide it bounced sharply to $ 1,830, hitting a new daily high.
Near the end of the week, the XAU / USD It is hovering around the $ 1,825 level, flat for the day and around $ 10 above the level it had a week ago. Still, it seems likely that there will be some sharp moves considering that volatility in the currency market increased.
A fall in the US dollar triggered a rebound in gold. The DXY fell from multi-day highs above 90.70 to 90.39 within a few hours. At the same time, US yields moved away from the highs adding support to metals. XAG / USD broke $ 27.20 and hit $ 27.42 a two-day high.
The week is about to end with a soft tone for the US dollar ahead of a long weekend due to a holiday on Monday in the US Also, the Spring Festival in Asia could keep volume down in early next week.
Technical levels
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