- Gold is moving sideways around $ 1,910 on Thursday after a sharp decline.
- The US dollar maintains its recent strength, DXY gains 0.30%.
Gold falls for the second day in a row on Thursday as the US dollar continues to rally. The yellow metal managed to stay above the weekly lows and the $ 1,900 zone, but it is under pressure.
The US dollar, boosted by rising US yields, keeps gold on the defensive. DXY is up 0.30% to 89.80, after hitting the lowest level since 2018 on Wednesday. Wall Street indices are at all-time highs and Bitcoin is nearing $ 40.
Gold remains above $ 1,900, for now
XAU / USD It bottomed at the beginning of the US session at $ 1,906 and then rebounded to the upside, meeting resistance below $ 1,920. It is moving sideways around $ 1,910. The very short-term bias is negative and a decline below $ 1,900 could lead to further losses and a jump in volatility.
A recovery above $ 1,930 in gold would strengthen the outlook for the metal. The next resistance above is at $ 1,950 / 55, with a daily close above suggesting a test of $ 1,970 / 75.
Technical levels
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