FXStreet — Despite the rise in Oil prices and the rally on Wall Street, the Gold Offered and the rally is at the day high at 1236 $.
De bears are jedch on the go and so Gold after the 20-SMA on the hourly chart of 1231,19 was tested and fell.
US Dollar consolidates losses to 98,80
The US Dollar Index, which represents the strength of the USD vs. its 6 most important rival, is currently trading -0,35 % lower under the previous closing price in 99.25 in 98,80. The rally returns today was not sustainable and so many of the 10-year returns starting from the 2,3486 High-current 2,3362, where the daily profit is, however, still to 0.45%.
The correlation between Oil and Gold seems to be the driving force, where WTI is in the lead. For Gold, the offerings continue, with the WTI bulls to a rise in the 10-hours SMA of 49,11 need, so that the goal of a rupture device via 49,50 targeted. The DXY should fall under 98,80 this can be a trigger, especially if the 10-year yields fall below the support of 2,3345 in the direction of 2,3200.
** FXStreet News Editorial, FXStreet**