- The volatility in the price of gold continues in extremes.
- From the low of the day, the XAU / USD jumps over $ 30 in a few minutes.
After a plummeting to $ 1832, gold jumped to $ 1865, reaching the highest since January 8. It is trading just below $ 1860, even facing high volatility.
The pullback from the recent peak comes as the dollar strengthens on all fronts. The DXY made new highs for the day above 90.60 and this time, not only driven by the EUR / USD decline, but the dollar advanced on all fronts at this hour.
In the US everything is ready for the swearing-in of the president-elect Joe Biden. The expectation of the market is on the stimulus package. On Wall Street, stocks are rising modestly, supported in part by corporate results for the fourth quarter.
From a technical point of view, XAU / USD is moving sideways, without a clear direction and in a context of high volatility. On the downside, the key support can be seen at $ 1830/35, that if broken would point to further weakness for gold. Upward, the first barrier is seen at $ 1865, where the highs of the day are and above at $ 1875.
Technical levels
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