Higher US inflation lifts gold from weekly lows. XAU/USD unable to reach $1750, trims gains. Gold prices are on a volatile session after bouncing from a one-week low to a two-day high in a few hours. On European hours, XAU/USD bottomed at $1723/oz, the lowest since April 4, and recently reached $1749. As of writing, the metal is hovering around $1740, up ten dollars for the day. The sharp rebound started following US inflation data. The higher-than-expected reading weakened the US dollar and pushed US yields to the downside. The 10-year stands at 1.65%, far from the 1.70% high. In Wall Street, stocks are mixed. Gold and the $1750/55 area The upside move in gold eased when it approached the $1750/55 area that is a critical technical level. A consolidation clearly above would clear the way to further gains in the metal. Despite the recent pullback, the short-term outlook improved after the rally of more than $20 from the lows. A decline back below $1735 could suggest more weakness ahead, while under $1730, a test of the daily low seems likely. 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 Chiliz Price Forecast: CHZ jump to $1 is inevitable, according to technicals FX Street 2 years Higher US inflation lifts gold from weekly lows. XAU/USD unable to reach $1750, trims gains. Gold prices are on a volatile session after bouncing from a one-week low to a two-day high in a few hours. On European hours, XAU/USD bottomed at $1723/oz, the lowest since April 4, and recently reached $1749. As of writing, the metal is hovering around $1740, up ten dollars for the day. The sharp rebound started following US inflation data. The higher-than-expected reading weakened the US dollar and pushed US yields to the downside. The 10-year stands at 1.65%, far from the 1.70% high. In… 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.
