- Gold operates without a clear direction, lateral to low volume.
- XAU / USD is holding on to the gains from the December rally, albeit slowed by $ 1900.
He Gold is rising modestly on Tuesday, following a highly volatile session on Monday, when it went from testing $ 1900 to making up to the $ 1870 area.. Tuesday is moving sideways near $ 1880.
The Dollar weakness is being the supporting factor for the advance of the XAU / USD. The dollar index (DXY) has been trading at a low since December 18 below 90.00. The good mood in the markets is playing against the demand for the greenback. On Wall Street, the main indices aim to open with rises in the order of 0.45%, with new record highs.
Without economic data ahead, with a week limited by year-end holidays and low volume, the range runs in financial assets could be extended.
He low volume even affects correlations in the very short term, this being a detail to take into account in the surgery.
Unclear panorama
He Gold’s technical outlook is unclear. The December rally has lost strength in the $ 1900 area and where the 100-day average is also passing. A confirmation above would point to more raises. Before this level, the metal faced resistance around $ 1883.
To the downside, support looms at $ 1873, where a very short-term bullish line is passing, followed by $ 1868. A drop below the latter would expose last week’s bottom zone around $ 1855, which if it gave way, would leave the metal vulnerable to further losses.
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.
