Forex. Gold exchange rate forecast for today
Technically, an uptrend has formed in the banking metal market. The target in the resistance area is $1,815 per ounce. The area of 1760-1780 serves as a restraining level against the decline of gold – these are the price supports of October.
Global market signals say that gold will rise in price because there are risks. China's real estate sector continues its struggle with the bond market. According to media reports, in order to avoid a formal default, the Chinese developer China Evergrande Group transferred funds to a bank account to pay a coupon on dollar bonds.
The yield on 10-year UK bonds is close to the October maximum, and is now at 1.1470%. Meanwhile, the dynamics of the yield of US Treasuries keeps the dollar from further decline, the yield of 10-year US government bonds rose above 1.6%.
The middle of the week will be active. On Thursday, the focus is on US GDP for the third quarter and the number of initial applications for US unemployment benefits. A little later, the index of unfinished sales in the real estate market will be released. Traditionally, world currencies paired with the US dollar will show an increase in trading activity.