- XAU / USD is holding fast to the rally and is trading near the recent peak.
- Dollar weakness and falling yields support gold.
The gold and silver continue the rally that started last week. The yellow metal rose 0.40% on Monday, climbing for the fourth day in a row. The price is testing the $ 1,840 zone, looking closely at the nearly three-month high that reached $ 1,843 on Friday.
Commodities in general continue with a positive tone. In the case of XAU / USD the rally is reinforced by the weakness of the dollar and the fall in the yields of the Treasuries on Monday.
The dollar index (DXY) has been trading at its lowest since February, just above 90.00. For its part, the 10-year rate, which in the American session on Friday went from 1.48% to end the week in the 1.60% area, is falling at the start and stands at 1.57%.
With no economic impact data from the US ahead, what happens on Wall Street with stocks and the dollar and the bond market is expected to be key to gold’s rallies.
In case of exceeding $ 1840, the next goal can be located in the area of ​​$ 1850, there is a resistance at $ 1860 and then $ 1875. On the downside, the first relevant support level can be seen at $ 1830, followed by $ 1815 and the $ 1800 barrier.
Technical levels
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