- XAU/USD retreats more than $10 from daily highs.
- Wall Street indices down more than 2%.
- US yields at lowest in two weeks, 10-year at 1.50%.
Gold prices are up for the day but off highs. XAU/USD jumped to $1815 during the European session but then turned to the downside, pulling back under 1800$. The risk aversion environment kept gains limited and favoured the retreat.
US Treasuries are sharply higher on the back of risk aversion. The US 10-year is at the lowest since November 10 at 1.49%, after being near 1.70% two days ago; the 30-year is down 6% at 1.84%.
Concerns about the new COVID-19 variant weighed on market sentiment and is looking to affect monetary policy expectations. The restrictions announcements across Europe pushed equity and crude oil prices sharply to the downside.
Initially, XAU/USD reacted to the upside, boosted by lower US yields. The rally was limited, and as of writing, it is retreating, affected by the global sell-off and a mixed US dollar. A firm recovery above $1810 could remove the negative tone in the short term; while a daily close under $1780 would suggest more losses ahead.
|Today last price||1800.44|
|Today Daily Change||11.61|
|Today Daily Change %||0.65|
|Today daily open||1788.83|
|Previous Daily High||1795.14|
|Previous Daily Low||1786.06|
|Previous Weekly High||1877.23|
|Previous Weekly Low||1843.04|
|Previous Monthly High||1813.82|
|Previous Monthly Low||1746.07|
|Daily Fibonacci 38.2%||1791.67|
|Daily Fibonacci 61.8%||1789.53|
|Daily Pivot Point S1||1784.88|
|Daily Pivot Point S2||1780.93|
|Daily Pivot Point S3||1775.8|
|Daily Pivot Point R1||1793.96|
|Daily Pivot Point R2||1799.09|
|Daily Pivot Point R3||1803.04|
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