fxs_header_sponsor_anchor

News

Gold Price Analysis: QE unlimited boosts XAU/USD, nearing $1630/oz

  • XAU/USD surges as the Fed announces unlimited bond-buying scheme.
  • The level to beat for bulls is the 1630 level. 
 

XAU/USD daily chart

 
After suffering a sharp decline, gold is having a violent reaction up as this Monday the Fed announced that it would do whatever it takes to support the economy, aka Quantitative Easing unlimited or to infinity.
 

XAU/USD four-hour chart

 
The metal is surging from the 2020 lows as the bulls are challenging the 1630 resistance level while above the main SMAs on the four-hour chart. A break above the above-mentioned level can lead to further gains toward the 1660 and 1700 levels. Support can be expected near the 1590 and 1470 price levels.  
 
 
Resistance: 1630, 1660, 1700
Support: 1590, 1570, 1540
 

Additional key levels

XAU/USD

Overview
Today last price 1624.07
Today Daily Change 71.29
Today Daily Change % 4.59
Today daily open 1552.78
 
Trends
Daily SMA20 1590.68
Daily SMA50 1582.94
Daily SMA100 1535.74
Daily SMA200 1504.26
 
Levels
Previous Daily High 1561.22
Previous Daily Low 1482.74
Previous Weekly High 1561
Previous Weekly Low 1451.3
Previous Monthly High 1689.4
Previous Monthly Low 1547.56
Daily Fibonacci 38.2% 1531.24
Daily Fibonacci 61.8% 1512.72
Daily Pivot Point S1 1503.27
Daily Pivot Point S2 1453.77
Daily Pivot Point S3 1424.79
Daily Pivot Point R1 1581.75
Daily Pivot Point R2 1610.73
Daily Pivot Point R3 1660.23

 

 

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.


RELATED CONTENT

Loading ...



Copyright © 2025 FOREXSTREET S.L., All rights reserved.