Gold Price News and Forecast: Support is seen at the 1455/50 price zone
|Gold erases majority of daily gains, continues to trade above $1,460
The troy ounce of the precious metal rose to a daily high of $1,468.68 during the early trading hours of the American session but erased a large portion of its gains amid recovering risk sentiment. As of writing, the XAU/USD pair was up 0.08% on the day at $1,463.
Gold price analysis: XAU/USD eases from session’s highs, trades below $1465/oz
Gold daily chart
Gold stays not far away from four-month lows while trading below the 1465 resistance and the 50/100 SMAs.
Gold four-hour chart
The metal remains capped below the 1465 resistance and the 50/100 SMAs. Providing the 1472 resistance holds, the sellers might want to extend the bear move towards the 1455/50 zone and potentially to the 1440 level on the way down. Resistance is seen at the 1465 and 1472 price levels.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.