- Gold rises after recent fall, still limited.
- Progress supported by optimism in markets and stability in Treasury bond yields.
The oro it is rising on Wednesday and peaked for the day at $ 1793. The price managed to sustain above $ 1785, Tuesday’s low, and rebounded.
The advance of the metal is being supported by some generalized weakness of the dollar, in a context where equity markets are holding on to recent rallies. At the same time, Treasury yields have drifted away from recent highs.
The rebound for now does not look very convincing. A return above $ 1800 could give the metal more momentum to extend the raises. Key resistances are at $ 1815 and the $ 1830 area. If it continues below $ 1795, it will look vulnerable.
The report of Third quarter GDP, which could have no impact as it is the third reading, which is expected to show no surprises. The Conference Board Consumer Confidence Index will be released later. Thursday will be the key day with the data of the underlying index of spending on personal consumption and the report of requests for unemployment benefits.
Technical levels
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