Gold Price News and Forecast: The market is focusing on the 1465 level

FXStreet Team FXStreet

Gold Technical Analysis: Metal remains undecided below the 1465 level

Gold is starting December pressuring the 1465 resistance level while below the 50/100 SMAs. However, the bear case would entail a break below the 1445 swing low on a daily closing basis for a potential dive to the 1400 figure near the 200-day SMA.

Someone Is Betting On $4,000 Gold

Gold got an opportunity to trade without the price manipulators breathing down Gold's rise... And so the shiny metal, even with little volume, found a way to end the week up about $10 from where I last talked to you last Tuesday... I would have like to have seen Gold's move be greater in numbers without the price manipulators, but I'll take $10 and be a happy camper! But guess who's back at their desks today? And from the looks of it, they are already catching up, as Gold is down $6.40 in the early trading this morning...

Speaking of Gold... Jared Dillian of the 10th Man newsletter recently ran a survey, and among the questions he asked, was this one: What do you think the best medium term investment is with a time horizon of 4 years? Of individual stocks, mutual funds/ index funds, real estate, bonds, savings/cd's, and Gold, guess which one was the leader? That's right Gold! Gold beat individual stocks! Now that was a survey of 10,000 responses... I guess he asked the right people, because, from my view in the cheap seats, I would think the average joe six pack would say individual stocks, and not Gold...

XAU/USD

Overview
Today last price	1464.26
Today Daily Change	0.32
Today Daily Change %	0.02
Today daily open	1463.94

Trends
Daily SMA20	1468.19
Daily SMA50	1485.89
Daily SMA100	1484.97
Daily SMA200	1401.35

Levels
Previous Daily High	1466.62
Previous Daily Low	1453.1
Previous Weekly High	1466.62
Previous Weekly Low	1450.74
Previous Monthly High	1515.38
Previous Monthly Low	1445.8
Daily Fibonacci 38.2%	1461.45
Daily Fibonacci 61.8%	1458.26
Daily Pivot Point S1	1455.82
Daily Pivot Point S2	1447.7
Daily Pivot Point S3	1442.3
Daily Pivot Point R1	1469.33
Daily Pivot Point R2	1474.73
Daily Pivot Point R3	1482.85

Author

FXStreet Team

FXStreet

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