- Gold tries to extend the bounce from levels below $ 1750.
- Dollar decline and risk appetite support metals advance on Thursday.
Gold is trading without significant changes on a day of relative calm in the foreign exchange and equity markets, compared to the volatility of a day agos. XAU / USD remains close to the $ 1,760 zone.
The value of the ounce rose in European hours to $ 1766, reaching the highest level in two days, but then cut gains. The short-term bias is slightly upward. To gain more strength, the XAU / USD should remain above $ 1760 and shortly break above $ 1770. To the downside, a confirmation below $ 1750 would leave the metal vulnerable to further losses.
The value of gold remains near the upper limit of the recent range, supported by a correction of the dollar and in the rise of the equity markets, and despite the fact that the yields of the Treasury bonds validate recent progress. The 10-year rate is 1.52%.
At 12:30 GMT, the US unemployment benefit claims report will be released, which is expected to show a decline below 350,000. Minutes later, John Williams of the New York Fed will give a speech on inflation and business cycle dynamics.
Technical levels
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