US bond yields and the dollar are putting pressure on the precious metal.
The gold price initiated a corrective countermovement on Thursday and briefly traded 0.50% higher at $ 1,720. However, the precious metal is trading at its lowest point since June after bouncing off the round $ 1,800 mark last week and giving up support at $ 1,765. Bond yields weigh on as gold investing pays no interest or dividends and USDIDX is back to 91.
EURUSD is trading a little lower at 1.2045 on Thursday. In the daily chart, the price has been moving between the EMA50 and EMA100 since Friday. The trading range continues to narrow and is currently 60 pips. In the area between the two moving averages, there is often uncertainty about the direction of the next pulse. So far, the break below the February 17th low has failed and this week’s gains (high at 1.2213) have been swiftly surrendered.
The DE30 started the trading day unchanged on Thursday, as the losses from the pre-market trading could be compensated again. Since the opening, the index has been more or less in place, oscillating around the 14,000 point mark. On Wednesday, the DE30 pulled back from its all-time high, which was recorded in intraday trading at 14,194 points, and closed the session slightly in the red with a shooting star.