- Gold declining after approaching $ 1770.
- Equity markets are cautious, the dollar with mixed results.
The Gold is falling on Tuesday, after the rise on Monday and went back below the close on Friday. The value of the ounce had reached highs in a week at $ 1770, but then it began a pullback and it recently hit a daily low at $ 1,754.
The cautious climate in the markets, the stability in the Treasury bond market and a relative strength of the dollar continue to limit the advances of the yellow metal.
In the US, the lack of definition due to the legal limit of indebtedness is closely followed. In addition, on Tuesday there will be important data with the PMI and the ISM of the service sector, in addition to foreign trade data. Friday will be the key report with the September employment report.
Without being able to with $ 1770, nor settle on $ 1760
The XAU / USD shows signs of lack of strength to extend the bounce. The price encountered resistance at $ 1770, and undertook a pullback, which also led to a loss of $ 1760. A return above $ 1,763 could support the precious metal.
Should the movement extend, the average of 20 on the four-hour chart is passing at $ 1755, so a confirmation below would be a bearish signal. Then the next support is at $ 1745 and $ 1735.
Technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
