Gold Price News and Forecast: XAU/USD breaks to the upside, trades near $1475/oz

Gold: the key will now be how far the bulls can take a recovery [Video]

The selling pressure through the US dollar into yesterday afternoon allowed gold to claw back much of the earlier lost ground. It turned what looked to be a renewed corrective session into a move which now just further clouds the outlook for gold. In recent sessions, we have been considering the reaction of traders as they returned from Thanksgiving. Read more...

Gold Technical Analysis: Yellow metal breaks to the upside, trades near $1475/oz

Gold daily chart

Gold is rebounding from the November lows and broke the 1465 resistance level while trading below the 50/100-day simple moving averages (SMAs). 

Gold four-hour chart 

The metal left the 50 and 100 SMAs behind and seems headed towards the 1480 resistance near the 200 SMA. The 1465 level is becoming support. Read more...


Gold Bulls Still Need To Prove Themselves

The below is the weekly chart of the XAU/USD price. Yesterday saw a large sell off in the risk-on assets. One would expect gold, as a safe haven, to be a direct beneficiary of this decline. However, the precious metal bulls still need to prove themselves. We note that gold’s RSI is moving from a relative oversold level (green rectangle) and beginning to normalise. It’s fairly shallow for an oversold level but this is because of the previous strong impulse move up from June to August i.e. the recent pullback in gold may be overdone on a relative basis.

There is all the reasons for market participants to start reallocating capital to the havens. The risk-on market rallied on the basis that a phase one deal will be concluded. Reada more...


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.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD bounces after upbeat COVID-19 cure news

EUR/USD is trading above 1.13, rebounding from the lows. Gilead reported that its drug Remdesevir substantially reduces mortality among COVID-19 patients. The news boosted stocks and weighed on the dollar. US coronavirus statistics are due out.


GBP/USD recaptures 1.26 as the market mood improves

GBP/USD is trading above 1.26 as the market mood improves and the safe-haven dollar retreats. Investors are shrugging off Brexit concerns and focusing on hopes to cure coronavirus. US COVID-19 statistics are due out.


XAU/USD consolidates daily gains above $1,800

After advancing to its highest level since September of 2011 at $1,818 on Wednesday, the XAU/USD pair staged a correction and briefly dropped below $1,800 on Thursday.

Gold News

Cryptocurrencies: War for dominance hit the bedrock of the market

Bitcoin tried to regain market share and activated sales in the Altcoin segment. BTC/USD, ETH/USD and XRP/USD are looking for supports and a rebound to push them to new elative highs. The current compression on the XRP/USD chart could trigger an exploding movement.

Read more

WTI once again breaks $40 per barrel after trading lower in early EU trade

There has been quite the bounce in WTI since the EU session after some strong selling pressure during Thursday and overnight. Once again on Friday's session, the price has taken the USD 40 per barrel handle. 

Oil News

Forex Majors