Gold Price Analysis: XAU/USD consolidates close to Tuesday highs around $1815
Spot gold (XAU/USD) prices saw significant upside on Tuesday, rallying more than 2% from roughly $1780 to current levels around $1815. The US 10-year inflation breakeven rose above 1.8% on Tuesday (an indication that markets expect inflation to average 1.8% over the next 10 years), its highest level since May 2019. Meanwhile, PMI reports from around the world on Tuesday also pointed to the likelihood of rising inflation;
Gold Price Analysis: XAU/USD consolidates rebound above $1800 as US dollar remains under pressure
Gold is holding onto important daily gains as it hovers around $1810, up by more than $30 from Monday’s close. It is having the best day in weeks. The price of the metal jumped during the European session and peaked at $1814 before retreating to $1804. The rebound was driven by a correction, some profit-taking and a weaker US Dollar.
The positive momentum in gold eased despite the sharp decline of the US dollar and risk appetite on the back of higher US yields. The 10-year jumped to 0.925%, the highest level since mid-November.
|Today last price||1813.1|
|Today Daily Change||-1.41|
|Today Daily Change %||-0.08|
|Today daily open||1814.51|
|Previous Daily High||1817.37|
|Previous Daily Low||1775.52|
|Previous Weekly High||1876.14|
|Previous Weekly Low||1774.4|
|Previous Monthly High||1965.58|
|Previous Monthly Low||1764.6|
|Daily Fibonacci 38.2%||1801.38|
|Daily Fibonacci 61.8%||1791.51|
|Daily Pivot Point S1||1787.56|
|Daily Pivot Point S2||1760.62|
|Daily Pivot Point S3||1745.71|
|Daily Pivot Point R1||1829.41|
|Daily Pivot Point R2||1844.32|
|Daily Pivot Point R3||1871.26|
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