Gold prices rebound from three-day lows, limited by $1850. DXY turns negative ahead of Powell and Biden. After the beginning of the American session, gold gained momentum and broke above $1943, hitting a fresh daily high at $1852. So far, it has been unable to remain above $1850. Price is moving sideways ahead of key speeches. The yellow metal is gaining moment as market participants await Fed’s Powell speech. The recent increase in US bond yields and speculations about what the central bank will do over the next meetings make Powell’s words more interesting. President-elect Joe Biden is expected to present its stimulus package. Investors anticipate a big relief package. Wall Street opened with modest gains and remained in the positive ground even after weaker-than-expected employment economic data. The US dollar pulled back over the last hour in anticipation of the next events. The DXY is flat as of writing, hovering around 90.35, after hitting at 90.58, the highest level in two days. XAU/USD is facing a strong resistance around $1850 and the 100-hours SMA. A consolidation above could open the door for a test of the weekly high around $1863. On the flip side, below $1843, the next support is $1835. Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Aragon CEO resigns sending ANT price down by 20% in a week FX Street 2 years Gold prices rebound from three-day lows, limited by $1850. DXY turns negative ahead of Powell and Biden. After the beginning of the American session, gold gained momentum and broke above $1943, hitting a fresh daily high at $1852. So far, it has been unable to remain above $1850. Price is moving sideways ahead of key speeches. The yellow metal is gaining moment as market participants await Fed’s Powell speech. The recent increase in US bond yields and speculations about what the central bank will do over the next meetings make Powell’s words more interesting. President-elect Joe Biden is expected… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
