- Pause in the gold rally, still supported by dollar weakness.
- XAU / USD with resistance at $ 1,810, support around $ 1,798.
The XAU / USD remains bullish despite the setback it is having on Tuesday, in which it falls modestly. The value of the ounce fell to $ 1799 hours ago, and is trading in 1803, holding above $ 1800.
The metal maintains a bullish tone although limited by resistance at $ 1810, and with initial support in the area of $ 1,798. Breaking the latter would expose a short-term bullish line around $ 1790. To the upside, above $ 1810, then $ 1820 will follow and then the level around $ 1833 will appear on the radar, which is key and whose break would enable gains in the medium term.
The decline in gold looks corrective for the time being and moderate. The context of dollar weakness, risk appetite and decline in Treasury bond yields, looks favorable for gold, and may drag or support silver as well.
The 10-year benchmark rate for the US bond is at 1.62%, away from 1.70% for now. For its part, the DXY falls 0.10%, erasing part of Monday’s gains and remaining in the wide lateral range. The futures of the main Wall Street indices point to an open with gains around 0.45% after the record close on Tuesday.