XAU / USD rises to $ 1,910 and turns positive on the day

• Gold bounces from the $ 1,900 support area and returns to $ 1,910.
• XAU / USD appreciates moderately as risk aversion wanes.

Gold futures they have found support just below the $ 1,900 area earlier today before slowly climbing to $ 1,910, turning positive on the daily charts. The precious metal lost ground, with the US dollar rising during the European session on Tuesday, to appreciate during the North American session and market sentiment improved moderately.

XAU / USD remains neutral around $ 1,900

From a broader perspective, bullion prices continue to move directionlessly within the previous ranges, fluctuating on both sides of the $ 1,900 level, with upside attempts limited to around $ 1,910.

Investor concerns about the fallout from the second wave of COVID-19, with infections rising in the United States and major European economies, have crushed risk appetite, fueling demand for the US dollar and weighing on the dollar. gold denominated in dollars.

Beyond that, renewed tensions between the United States and China in the wake of a possible sale of US missiles to Taiwan and uncertainty over the upcoming US presidential elections have scared traders away from risky assets.

The market mood appears to have improved somewhat during the US session, with US durable goods orders in September and house prices rising above expectations. Equity markets have seen a moderate recovery and the US dollar has trimmed its gains, providing some support for the yellow metal.

Technical levels