- Volatility in gold trading increases.
- XAU / USD bounced off $ 1840 after plummeting to $ 1832.
He went from operating in the area of the weekly highs, about $ 1860 to plummet to $ 1832, in a few minutes, dropping just below Tuesday’s low. After this it bounced and is trading at $ 1,841, practically at the same level it closed yesterday.
The news is that volatility in XAU / USD has skyrocketed, but it’s still not far from the $ 1840 zone. The previous strength has disappeared, but at the same time, the bearish momentum seems to have lost steam.
Key support is now $ 1830/35: a confirmation below would point to more weakness for the metal. In the opposite direction, the $ 1855/60 band has become a major barrier that if broken would expose the next resistance at $ 1875.
The market has its eyes set on what will be Joe Biden’s first steps as US President Trump is leaving the presidency. Wall Street futures are in positive territory, supported by expectations for corporate results and stimulus measures.
Technical levels
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