Gold Price News and Forecast: XAU/USD is having a good session moving 0.60% higher on Wednesday
|Gold Price Analysis: Here are all the key levels in gold
The technicals are looking positive at the moment with the market making higher highs and higher lows on the hourly chart. The very light pink lines are showing a converging wedge to the upside and the trendlines could provide some support or resistance. The main level in the chart is the red line at USD 1950.00 per troy ounce. The green line is the next resistance and this is at USD 1972.75 per once and beyond that the USD 2k psychological level is also close.
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US hurricane boosts oil, gold remains steady
A weaker US dollar saw gold mount a feeble challenge to its technical resistance line at USD1970.00 an ounce overnight. However, the rally lacked momentum and quickly petered out, with gold retreating to finish almost unchanged at USD1954.00 an ounce.
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