- XAU / USD clears losses for the day, but fails to exceed $ 1,810.
- Dollar weakness and falling yields support the metal.
The oro advanced in the last hours, after the meeting of the European Central Bank and after the US data After managing to sustain above $ 1790, the XAU / USD climbed to $ 1806, marking a new intraday high, although it still cannot move away from the area of $ 1800.
The report of requests for unemployment benefits from the US showed a jump in initial orders to highs in eight weeks, something that was not expected. The numbers helped dampen optimism over the rebound in stocks on Wall Street and played slightly against the dollar.
The rebound of the XAU / USD also occurred after the meeting of the European Central Bank, which, although it did not leave news, confirms the continuity for a long time of accommodative policies, which include low interest rates.
Weakness limited to a 20-day average
Gold is trading just above $ 1800 and back above the 20-day moving average that is passing $ 1799. A daily close well below that level will favor a bearish scenario. For now the mentioned zone plus the support of $ 1790 are giving a base to the metal. If it breaks, the next target level can be located at $ 1770.
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.
