Gold Price Forecast: XAU/USD to see further gains once above $1,814
|Gold bulls are re-attempting the key $1,814 hurdle amid buying resurgence. Acceptance above the latter is critical for further upside, FXStreet’s Dhwani Mehta report.
$1,814 remains a tough nut to crack for XAU/USD bulls
“The Fed speculation-led dynamics in the yields and the greenback will influence gold price in the coming days amid a lack of top-tier US economic news and holiday-thinned trading.”
“Bulls need a decisive break above the December highs of $1,814 to resume the recent uptrend. The next critical bullish target is envisioned at the $1,820 round number.
“Gold buyers remain hopeful so long as the mildly bullish 50-DMA at $1,803 is defended. A break below that level will expose the 200-DMA at $1,797. The 100-DMA at $1,791 is likely to offer strong support on additional declines.”
See – Gold Price Forecast: XAU/USD at risk of plunging below $1,500 – Credit Suisse
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.