XAU/USD Analysis: raised to 1,584.00

Dukascopy Bank Team Dukascopy Bank SA

XAU/USD

On Friday, the XAU/USD exchange rate raised to the 1,584.00 level. During today's morning, the rate declined to 1,580.00.

On the one hand, yellow metal could trade upwards against the Greenback within the following trading session. In this case the price for gold could reach the 1,588 level.

On the other hand, gold could trade downwards against the US Dollar in the nearest future. Note that the exchange rate could gain support of the 55-hour SMA near 1,578.00.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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