Gold Price News and Forecast: XAU/USD is consolidating gains while trading a few ticks away from the 2020 high
|Gold Price Analysis: XAU/USD trading at a stone throw from 2020 highs
Gold daily chart
XAU/USD is trading in an uptrend above its main daily simple moving averages (SMAs). Gold is challenging the 2020 high near the 1611.53 level.
The gold futures contract gained 1.08% on Tuesday
The gold futures contract gained 1.08% on Tuesday, as it accelerated its recent advance. The yellow metal broke above February 3 local high and $1,600 level, but it closed slightly below January 8 high of $1,613.30. Investors keep buying the safe-haven asset despite record-breaking stock market and rising U.S. dollar.
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.