- Downward revision of fourth quarter GDP in the US, upward revision of inflation indicators.
- Jobless claims and Chicago Fed activity exceeded expectations.
- Gold’s rebound fails to exceed $1,830.
gold prices They bounced after hitting fresh monthly lows amid risk appetite and an intraday US dollar reversal. The XAU/USD pair bottomed at $1,817 after the US economic data release, the lowest level since late December, and then rallied towards the $1,830 zone.
Data published in the US were mixed. Initial claims for jobless benefits fell to 192,000, the lowest level in three weeks. The second reading of fourth-quarter GDP showed a lower annualized growth rate of 2.7%, down from the 2.9% previous estimate. GDP inflation indicators reported an upward revision. The Chicago Fed National Activity Index rose from -0.43 to 0.23, beating expectations.
Investors continue to digest the FOMC minutes and new economic figures. The Dow Jones rises 0.43% and the Nasdaq 0.50%. US yields are down slightly, hovering around monthly highs.
The dollar peaked after the US data release, while gold bottomed at $1,817, the lowest level since December 30. Subsequently, the yellow metal bounced towards $1,830, but failed to break above that key level any time soon.
After the opening bell on Wall Street, the dollar gained momentum again and pushed XAU/USD lower again. XAU/USD is approaching the $1,820 area, which is critical. A consolidation below would open the doors to further weakness, targeting $1,812 initially.
XAU/USD daily chart
XAU/USD
Overview | |
---|---|
Last price today | 1826.29 |
daily change today | 1.43 |
today’s daily variation | 0.08 |
today’s daily opening | 1824.86 |
Trends | |
---|---|
daily SMA20 | 1875.26 |
daily SMA50 | 1864.05 |
daily SMA100 | 1790.08 |
daily SMA200 | 1776.28 |
levels | |
---|---|
previous daily high | 1846.11 |
previous daily low | 1823.63 |
Previous Weekly High | 1870.71 |
previous weekly low | 1818.93 |
Previous Monthly High | 1949.27 |
Previous monthly minimum | 1823.76 |
Fibonacci daily 38.2 | 1832.22 |
Fibonacci 61.8% daily | 1837.52 |
Daily Pivot Point S1 | 1816.96 |
Daily Pivot Point S2 | 1809.05 |
Daily Pivot Point S3 | 1794.48 |
Daily Pivot Point R1 | 1839.44 |
Daily Pivot Point R2 | 1854.01 |
Daily Pivot Point R3 | 1861.92 |
Source: Fx Street

I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.