XAU / USD stable around $ 1780

• Gold is moving sideways on Tuesday without major changes.
• Current range between $ 1775 and $ 1785 contains the price.
• Optimism in markets plays in favor of the yellow metal, but progress in Treasury yields limits it.

The Gold is trading unchanged from Monday’s close, in the $ 1780 zone. The price has not registered significant variations in the last hours and is moving sideways, having marked a maximum for the day at $ 1784 and a minimum at $ 1776.

The consolidation is being favored by the combination of some optimism in the stock markets, which should boost gold and weaken the dollar, but comes with a significant rebound in Treasury bond yields, which play against the metal.

While Wall Street futures point to an open with gains on average of 1.20%, and that in Europe the main indices are up as much as 1.70%, the US 10-year benchmark rate is 1.44%, after trading 1.33% on Friday. The news from China, with good economic data and the injection of liquidity is being well received. In November, exports rose 22% and imports 31%.

Without economic impact data from the US for the next few hours, three-year debt placement stands out. The key data will arrive on Friday with inflation, more than anything, considering that next week will be the meeting of the Federal Reserve.

Between $ 1775 $ 1785

The current XAU / USD side range comes after the bounce from month-long lows found resistance around $ 1785, which is the level to break. Above gold could gain strength to face the next hurdle at $ 1795. The latter, if given, would leave the way ready for an advance over $ 1800.

In the opposite direction, support around $ 1775 is avoiding further losses. The pressures will drop below $ 1,770, which if it breaks below it will leave XAU / USD free to test the recent low at $ 1,760.

Technical levels