- Metals rise modestly on Thursday, trading in no clear direction.
- XAU / USD fails to hold above $ 1875/80.
The price of gold is moving without a clear direction on Thursday, after having had a day of high volatility on Wednesday, where it peaked in months at $ 1,890, after being near $ 1,850. It is operating at just over $ 1870.
Movements in the Treasury bond market had an impact on gold, which was transferred to silver. The volatility in the yields together with the fall in the stock markets and the strengthening of the dollar contributed to keep the value of the ounce below $ 1,880. A confirmation above that level would clear the way for $ 1900.
Although on Wednesday it traded at $ 1,890, XAU / USD sharply reversed the trend later, affected by the Federal Reserve minutes. The document reads that some officials are willing to discuss a reduction in the purchasing program in future meetings. This pushed yields up, bringing the 10-year bond to 1.69%. Then there was a pullback, which allowed gold to find support above $ 1,860.
The weekly report of jobless claims and the Philly Fed index, as well as consumer confidence data, will be released on Thursday. These can generate noise in the markets.
Technical levels
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