XAUUSD News

(7 votes)


Last Updated Date: 7 May 2021 @ 5:48 AM (UTC)
*Please note that all the dates are in GMT time zone

Gold was up on Friday morning in Asia, ending the week close to a two-and-a-half-month high. The Dollar slid to a one-week low and the benchmark US 10 year Treasury yield fell close to a two-week low on the back of positive economic data from the U.S.\

Yesterday’s outside bull day stops bear forces and alerts for a potential short term reversing turnaround. Trade is positioned for rallies. A close over 1824.0 confirms a short term upturn that will run trade to 1847.0. Any corrective dips should continue to find basing support at 1781.0 on down to yesterday’s low. A penetration under 1781.0 is needed to release selloffs to 1760.0.

 
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