- Gold is under downward pressure, despite dollar weakness.
- XAU / USD fails to break $ 1815/20 and could correct lower.
The Gold is falling on Thursday and just hit lows for the day at $ 1805. The XAU / USD shows a bearish pressure, but for the moment it resists above $ 1800, avoiding a further decline. The precious metal could not benefit for the moment, of the weakness of the dollar.
The dollar index is at weekly lows just below 92.40. A slight rise in Treasury bond yields limited the dollar’s decline and favored the decline in gold. The 10-year rate rose to 1.30%.
Commodities are with mixed results. Both XAG / USD and XAU / USD are falling, while oil is up almost 3% with the WTI above $ 70.00. On Wall Street, the Dow Jones is up 0.19% and the Nasdaq 0.27%.
The rises in the equity markets have not helped gold break the barrier of $ 1,815 / 20 that contained the recent rally. A rally above it would trigger more rises, with a possible target of the next strong resistance at the $ 1833 area.
Technical levels
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