Gold Price treads water for the second consecutive day, taking rounds to $1,815, as market sentiment dwindles amid a lack of major data/events and mixed signals. The precious metal faced rejection at $1,836 earlier in the week but buyers returned from $1,807 to nullify the moves, portraying lackluster moves of late.
Gold Price: Key levels to watch
The Technical Confluences Detector shows that the Gold Price stays between the $35 range above $1,800, nearing multiple resistances starting from $1,817 that encompasses the SMA5 four-hour, Fibonacci 23.6% one-week and one-day.
Following that, a convergence of the SMA100 one-hour, the SMA10 four-hour and the Fibonacci 38.2% one-day challenge XAU/USD buyers around $1,821.
In a case where gold buyers cross $1,821, SMA5 one-day and Fibonacci 61.8% one-day at $1,825 and $1,828 respectively, can test upside momentum before the key $1,834 level including Fibonacci 38.2% one-week.
