Gold remains in a two-week uptrend, thanks to weakening dollar and growing risk appetite. The pressure in dollar came from falling Treasury yields amid hopes that the Fed may take a pause in raising interest rates after two consecutive rises of 0.50%.
Technical picture:
The quote is above the middle line of the Bollinger indicator, above the SMA 5 and SMA 14. The relative strength index (RSI) is above 50% and is moving horizontally, while the stochastic indicator is in the overbought area.
Possible dynamics:
A rise and consolidation of spot gold above 1857.75 could lead to an increase to 1886.45.
