Gold Price News and Forecast: XAU/USD flirts with session lows, around $1725-20 region
|Gold Price Analysis: XAU/USD to stabilise between the $1653-$1707 zone –" Commerzbank
Gold (XAU/USD) has sold off to the 55-month moving average at $1707, between here and the $1653 uptrend, the yellow metal should stabilise, in the view of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank.
“Gold has sold off to the 55-month ma at $1707 and currently we cannot rule out further slippage towards the $1653 2019-2021 uptrend. If seen, we would expect this to hold the downside.” Read more...
Gold Price Analysis: XAU/USD flirts with session lows, around $1725-20 region
Gold maintained its offered tone through the mid-European session and refreshed daily lows, around the $1721 region in the last hour.
The XAU/USD came under some renewed selling pressure on Wednesday and erased the previous day's modest recovery gains from the lowest level in over eight months. The safe-haven precious metal was weighed down by the underlying bullish tone in the financial markets, bolstered by the optimism about a strong global economic recovery. Read more...
Gold Price Analysis: Rising real yields raise the prospect of a serious XAU/USD fall –" Credit Suisse
According to strategists at Credit Suisse, rising real yields should put further pressure on gold. XAU/USD has already seen an important break of support at $1765 to mark a top and a more serious fall.
“Gold has finally bowed to rising yields and the strengthening USD and key support at $1761 has been finally removed for the completion of a top. Although the 38.2% retracement of the 2018/2020 bull trend at $1726 is essentially holding for now we look for a clear break in due course for a fall to $1670 next, then $1620/15.” Read more...
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