Breaking: Gold rises to $1,800 for the first time in a month

FXStreet Team FXStreet

Following Wednesday's impressive upsurge, gold preserved its bullish momentum in the first half of the day Thursday and touched $1,800 for the first time since mid-September.

At the time of press, the XAU/USD pair was up 0.4% on the day at $1,800.15.

Falling US Treasury bond yields seem to be fueling gold's rally in the second half of the week. After bond markets returned to action on Tuesday, the benchmark 10-year US Treasury bond yield lost nearly 6% and was last seen falling 0.9% on the day at 1.525%.

Moreover, the poor performance of US Treasury yields continues to weigh on the greenback with the US Dollar Index dropping to fresh 10-day lows near 93.80.

Later in the session, the weekly Initial Jobless Claims and September Producer Price Index data will be featured in the US economic docket.

Gold Price Forecast: XAU/USD to see further gains on a daily close above 200-DMA.

Gold 15-min chart

Technical levels to watch for

XAU/USD

Overview
Today last price	1800.01
Today Daily Change	7.05
Today Daily Change %	0.39
Today daily open	1792.96

Trends
Daily SMA20	1757.5
Daily SMA50	1776.98
Daily SMA100	1800.3
Daily SMA200	1796.79

Levels
Previous Daily High	1796.17
Previous Daily Low	1757.97
Previous Weekly High	1781.38
Previous Weekly Low	1746.07
Previous Monthly High	1834.02
Previous Monthly Low	1721.71
Daily Fibonacci 38.2%	1781.58
Daily Fibonacci 61.8%	1772.56
Daily Pivot Point S1	1768.56
Daily Pivot Point S2	1744.17
Daily Pivot Point S3	1730.36
Daily Pivot Point R1	1806.76
Daily Pivot Point R2	1820.57
Daily Pivot Point R3	1844.96

Author

FXStreet Team

FXStreet

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