News

Gold Price Analysis: XAU/USD declines to 2-week lows, challenges $1700/oz

  • XAU/USD is erasing the most part of the monthly gains. 
  • XAU/USD is challenging key levels near the 1690/1700 price zone. 
 

XAU/USD four-hour chart

 
XAU/USD is losing considerable strength while trading below the main SMAs on the four-hour chart. Gold is slowly reversing its monthly gains while challenging the 1690/1700 price zone. If the market breaks those key levels, gold can see more weakness towards the 1660 level. Resistance can emerge near the 1720 and 1740/50 price zone. 
 
   

Additional key 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.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.