Gold Price News and Forecast: Gold flatlined after the biggest weekly gain since September

FXStreet Team FXStreet

Gold Price Forecast: Bull breakout likely, Fed continues to expand its balance sheet

Gold could soon witness a bullish breakout, courtesy of the US Federal Reserve’s (Fed) continued expansion of its balance sheet.

The yellow metal is currently changing hands at $1,477 per Oz and is set to end the week with a 1.17% gain. That is the biggest weekly gain since the third week of September.

Gold: Flatlined after the biggest weekly gain since September

Gold is lacking a clear directional bias in Asia, having eked out its biggest weekly gain in nearly three months. The yellow metal is currently trading at $1,474 per Oz, representing little or no change on the day.

Gold ended last week with a 1.07% gain - the biggest rise since the final week of September. Back then, the metal had rallied by 1.89%.

XAU/USD

Overview
Today last price	1474.96
Today Daily Change	-1.54
Today Daily Change %	-0.10
Today daily open	1476.5

Trends
Daily SMA20	1466.79
Daily SMA50	1479.45
Daily SMA100	1489.76
Daily SMA200	1409.57

Levels
Previous Daily High	1478.1
Previous Daily Low	1462.82
Previous Weekly High	1486.58
Previous Weekly Low	1458.82
Previous Monthly High	1515.38
Previous Monthly Low	1445.8
Daily Fibonacci 38.2%	1472.26
Daily Fibonacci 61.8%	1468.66
Daily Pivot Point S1	1466.85
Daily Pivot Point S2	1457.19
Daily Pivot Point S3	1451.57
Daily Pivot Point R1	1482.13
Daily Pivot Point R2	1487.75
Daily Pivot Point R3	1497.41

Author

FXStreet Team

FXStreet

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