Gold Price News and Forecast: XAU/USD to climb towards the $1857/83 area
|Gold Price Analysis: XAU/USD bulls gearing up for a move beyond $1,800 mark
Gold edged higher for the second consecutive session on Wednesday, albeit lacked any follow-through buying and remained capped below the 100-day EMA. The commodity was last seen trading just above the $1,780 level, up around 0.20% for the day.
Renewed fears about another dangerous wave of coronavirus infections in some countries continued weighing on investors' sentiment and benefitted the safe-haven XAU/USD. However, an uptick in the US Treasury bond yields allowed the US dollar to recover further from multi-week lows and capped gains for the dollar-denominated commodity. Read more...
Gold Price Analysis: XAU/USD has the $1835 mark in its sights – Commerzbank
Gold (XAU/USD) has based short-term and targets the $1835 level, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports.
Gold has completed a small base at approximately $1756-$1677 which offers an upside measured target to $1835. This is our short-term target. Above here lies the 200-day ma at $1857.58 and the downtrend at $1881. We suspect that this will hold the topside for now. Read more...
Gold Price Analysis: XAU/USD to climb towards the $1857/83 area – Credit Suisse
Gold has set a base above $1755/65 after retesting long-term support at $1682/71. Strategists at Credit Suisse expect XAU/USD to rise towards the $1835 mark.
Gold has retested and again held key support at $1682/71 – the 38.2% retracement of the entire 2015/2020 bull market and the recent and June 2020 lows – and the subsequent break above $1755/65 has seen a near-term ‘double bottom’ base established.” Read more...
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