The precious metal is extending losses on Tuesday and is approaching the minimum of ten days, which was set yesterday in 1265 dollars. For the moment, the pair XAU/USD is trading in 1268, a 0.57% lower on the day.
As investors digested the earnings optimistic in the first quarter, the rebound in the relief of yesterday is still felt in the markets as well, pushing to the future of the u.s. stocks higher. Dow e-minis to 1 year went up 60 points, or 0.29%, the e-minis ESc1 S&P 500 rose 3.75 points, or 0.16%, and Nasdaq 100 e-minis NQc1 were up 9.5 points, or 0.17%.
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World stocks, rose on Monday with the candidate of centrist and pro-European Union Emmanuel Macron winning the first round of the French presidential elections. Although the momentum faded a bit on Monday, the rally continued with the Nikkei adding over 1% in Asia, while the German DAX rose 0.15 percent and the FTSE of the u.k. added 18 points during the european session.
On the other hand, the Index of the Us Dollar has struggled to stay above the mark of 99, but the 98.80 has formed a strong support, restricting further losses in the dollar and not allowing the XAU/USD make a correction to the upside.
The pair could face immediate support at 1265 (minimum of Monday), ahead of 1248 (DMA 50) and 1240 (DMA 200).
To the upside, resistances are aligned at 1274 (maximum of Monday), 1288 (maximum of 21 April) and 1295 (maximum of 17 April).