Daily Analysis : XAUUSD ( 14 Dec 2022 )

Yellow metal's rising continues. It is currently hovering around 1810 levels and holding above the critical level of 1805. The US inflation data published lower-than-expectation yesterday. Thus, gold traders are raising their hopes for a 50 bps rate hike by the Fed. According to the CME FedWatch Tool, the Fed's 50 bps increase rose to %79.4. US 10-year treasury yield was last seen around at %3.48 level while US 2-year treasury yield was at %4.20. Additionally, the real yield for US10-year is increasing 101 bps.

Technically, above 1790 (200-DMA) level, the sentiment for gold price is positive. Support is seen at 1785 level. More downside, the support is at 1760 level. On the upside, the resistance is at 1830 level. On the additional upwards, 1845 is seen as crucial resistance level.

Support: 1790 – 1785 – 1760

Resistance: 1830 – 1845 – 1870