Veja também
04.05.2021 02:40 PM
Gold maintained its offered tone through the first half of the European session and was last seen hovering near the lower end of its daily trading range, just above the $1,780 level.
The precious metal continued with its struggle to reclaim the $1,800 mark and witnessed some fresh selling on Tuesday, eroding a part of the previous day's strong positive move to over one-week tops. The pullback was sponsored by resurgent US dollar demand, which tends to dent demand for the dollar-denominated commodity.
Meanwhile, repeated failures near the $1,800 mark warrant some caution for bullish traders and make it prudent to wait for some follow-through buying before positioning for any appreciating move. That said, the downside is likely to remain cushioned ahead of Friday's release of the closely-watched US monthly jobs report (NFP).
A lower time frame analysis shows that the price of gold could surge towards the $1,840 area if the $1,800 level is broken. Any moves back towards the $1,775 area is likely to be seen as a buying opportunity by short-term gold bulls. XAUUSD is only bullish while trading above the $1,775 level, key resistance is found at the $1,800 and the $1,840 levels. If XAUUSD trades below the $1,775 level, sellers may test the $1,765 and $1,756 support levels.
Our new app for your convenient and fast verification
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
