- The dollar remains firm in the market, DXY rises for the fifth day in a row.
- XAU / USD bearish, no sign of a rebound.
- Data ahead: GDP and requests for unemployment benefits.
The Gold is falling for the third day in a row and remains in a dominant negative tone. The price of the ounce could not exceed $ 1735 and changed trend, falling to $ 1722, a level located just above Wednesday’s low.
The zone of $ 1720 looms as the next support, along with $ 1715, below it already appears on the radar $ 1700. A fall below this last level would warn of a possible new test at $ 1676, where the minimums of March and July of this year are. To the upside, the first resistance appears at $ 1740, where a rally above would ease downward pressures. Then it will follow $ 1,760 and $ 1,780.
Master the strength of the dollar
The main factor that continues to be a determining factor in the fall in the price of gold is the strength of the dollar along with the rise in the yields of Treasury bonds. On Thursday volatility could continue to be high considering that it is the last day of the month and the quarter.
In the US, at 12:30 GMT a new second quarter growth reading and weekly unemployment benefit claims report. You would not expect a large impact from this data, overshadowed by current market events.
In Congress, the president of the Federal Reserve, Jerome Powell, and Secretary of the Treasury, Janet Yellen. There doesn’t seem to be much more to say, as the two spoke on Tuesday and Powell also gave other speeches.
Technical levels
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