- Gold advances on Monday and maintains a bullish tone.
- A confirmation over $ 1810 is necessary for the XAU / USD to be ready to climb further.
The Gold is rising on Monday and in the European session it reached $ 1811, reaching the highest level since July 21. After failing to assert itself above $ 1,810, it fell back, remaining above $ 1805.
The advance of the precious metal at the beginning of the week occurs before a decline in the dollar in the market. The US Dollar Index (DXY) loses 0.18% and is trading below 92.75. The drop in Treasury yields contributes to those rides. The 10-year rate is at 1.24%, after reaching a minimum since last Wednesday.
Looking ahead to the American session, Gold has a bullish bias, but needs to affirm above $ 1,810 to enable a prolongation of the rallies. A drop below $ 1800 would take away momentum, with key support being at $ 1790.
In the next few hours, the US will publish data on home sales and the Dallas Federal Reserve index. The start of the week is taking place with limited routes, but volatility could increase considering that on Tuesday and Wednesday the Federal Reserve will meet.
Technical levels
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.