- The precious metal flirts with the key support in the $1,850 area.
- A better sentiment in the dollar weighs on gold.
The yellow metal extends the weekly leg lower and navigates at shouting distance from the key support area near $1,850 per ounce troy.
The better note around the greenback puts the metal under pressure and forces it to grind lower for the fourth consecutive session on Thursday in spite of the corrective downside in yields of the US 10-year reference.
The dollar manages to regain the smile after recent bearish sessions and despite the US calendar showed Initial Claims rising by 742K WoW and the Philly Fed index easing to 26.3 in November (from 32.2). The reading, however, came in above estimates.
Gold key levels
As of writing Gold is retreating 0.65% at $1,859.87 and faces the next support at $1,850.62 (monthly low Nov.9) seconded by $1,848.66 (monthly low Sep.26) and then $1,792.53 (200-day SMA). On the upside, a surpass of $1,899.05 (weekly high Nov.16) would expose $1,933.28 (monthly high Oct.12) and finally $1965,55 (monthly high Nov.9).
|Today last price||1857.8|
|Today Daily Change||22|
|Today Daily Change %||-0.67|
|Today daily open||1870.32|
|Previous Daily High||1884.9|
|Previous Daily Low||1863.86|
|Previous Weekly High||1965.58|
|Previous Weekly Low||1850.56|
|Previous Monthly High||1933.3|
|Previous Monthly Low||1860|
|Daily Fibonacci 38.2%||1871.9|
|Daily Fibonacci 61.8%||1876.86|
|Daily Pivot Point S1||1861.15|
|Daily Pivot Point S2||1851.99|
|Daily Pivot Point S3||1840.11|
|Daily Pivot Point R1||1882.19|
|Daily Pivot Point R2||1894.07|
|Daily Pivot Point R3||1903.23|
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