Gold up for the third day in a row, about to post the highest close in a month. Rally lost momentum near $1900 and corrected lower, bullish bias intact. A weak US dollar, risk appetite and technicals boosted gold prices. The ounce peaked during the American session at $1886, the highest level since November 16. It then pulled back toward $1880. Despite moving off high, XAU/USD is up $20 or by 1.25%. Since Tuesday it gained more than 3%. The key driver has been a decline of the US dollar across the board. The DXY dropped under 90.00 on Thursday for the first time since 2018. Commodities and emerging market currencies are also higher on Thursday. Looking at $1900 The rally in gold looks set to continue over the short-term and while it is above $1850. The next strong resistance is seen at $1900, and above around the $1915 area. Despite overbought reading in some near-term technical indicators, the current move higher still looks strong. A decline back under $1850 could suggest some exhaustion on the upside in the metal. The next support is seen at $1820. 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 If Tether falls the whole cryptocurrency market could go down with it FX Street 2 years Gold up for the third day in a row, about to post the highest close in a month. Rally lost momentum near $1900 and corrected lower, bullish bias intact. A weak US dollar, risk appetite and technicals boosted gold prices. The ounce peaked during the American session at $1886, the highest level since November 16. It then pulled back toward $1880. Despite moving off high, XAU/USD is up $20 or by 1.25%. Since Tuesday it gained more than 3%. The key driver has been a decline of the US dollar across the board. The DXY dropped under 90.00 on Thursday… 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.
