XAU / USD rises for second week, albeit without setting new highs

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  • Gold closed positive for the second week in a row, although there are still doubts.
  • XAU / USD remains above $ 1800, without having been able to break highs of the previous week.

Gold rose for the second week in a row and finished just under $ 1,810, after having rebounded from $ 1784 and unable to break the highs of the previous week.

The precious metal with this weekly rise manages to continue improving the upward technical outlook, with a close above the 55-week average, but still showing some lukewarmness. A breakout above $ 1815 would be a positive factor, which could lead to a test at the $ 1830 level.

Another positive for the XAU / USD is that it avoided having a weekly close below $ 1780. If this scenario occurs, the outlook would become clearly bearish, with a possible target in the $ 1,750 area.

Friday without trading for XAU

Gold trading is closed on most platforms on Friday. Markets will return to normal on Monday, although volume will continue at low levels.

In currencies, volatility is very low on Friday and with the Treasury bond market inoperative, there are no references as to where the metal could start next week.

Technical levels

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