View full page at metalsmine.com

 

Gold Price Forecast: XAU/USD bounces off $1,780 support on Thanksgiving Day

From fxstreet.com

Gold (XAU/USD) snaps a five-day downtrend while printing 0.25% intraday gains around $1,792 during early Thursday. The yellow metal dropped to the lowest level since November 04 the previous day before bouncing off $1,778. While a pullback in the US Treasury yields could be linked to the gold’s rebound, strong technical support around $1,780 also played its role to trigger the corrective pullback. That said, the recovery moves remain lackluster during Asia as the US markets are off due to the Thanksgiving Day holiday and there are no major releases from elsewhere. The US 10-year Treasury dropped 2.2 basis points ... (full story)

Story Stats

  • Posted:
  • Category: Technical Analysis