Bottom in place: Gold jumped to 10-day high


  • Gold (XAU/USD) jumped to 10-day high yesterday, adding credence to long-tailed candles.
  • Eyes gradually ascending (bullish) 100-day moving average (MA) hurdle.

Having created back-to-back long-tailed doji candles at the 200-day moving average support, gold shot up to a ten-day high of $1,323 - the highest level since April 30.

The yellow metal picked up a bid yesterday as the dollar index (DXY), which tracks the value of the greenback against major currencies, fell from 92.97 to 92.40 after the US April consumer price index (CPI) missed estimates.

The price action indicates the sell-off from the April 11 high of $1,365 has made a temporary low of $1,300 (May 1 low) and the bulls have regained control.

Further, the DXY daily chart shows bearish doji reversal, so the yellow metal may extend gains further to the gradually ascending (100-day MA) of $1,327.

Gold Technical Levels

As of writing, the metal is changing hands at $1,320/Oz. Resistance is lined up at $1,327 (100-day MA), $1328.50 (50-day MA) and support is seen at $1,317 (5-day MA) and $1,314 (10-day MA).

  TREND INDEX OB/OS INDEX VOLATILY INDEX
15M Strongly Bearish Neutral High
1H Bearish Neutral Low
4H Bullish Overbought Expanding
1D Bullish Neutral Low
1W Bullish Neutral Low

 

Share: Feed news

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. The author will not be held responsible for information that is found at the end of links posted on this page.

Recommended content


Recommended content

Editors’ Picks

AUD/USD: Stuck within the range

AUD/USD: Stuck within the range

AUD/USD left behind Tuesday’s strong pullback and regained upside impulse on Wednesday, advancing well north of 0.6500 the figure despite the late rebound in the Greenback. Investors will now closely follow the release of the always relevant Australian jobs report.

EUR/USD stalls below 1.1500 as Fed holds, Trump comments lift Dollar

EUR/USD stalls below 1.1500 as Fed holds, Trump comments lift Dollar

The EUR/USD trades almost flat after climbing past the 1.1500 figure, following the Federal Reserve's decision to hold rates unchanged, amid increasing tensions in the Middle East. This, along with comments from US President Donald Trump, boosted the Dollar, capping the Euro’s advance. 

Gold loses the grip, breaks below $3,400

Gold loses the grip, breaks below $3,400

Gold now turns negative after breaching below the key $3,400 mark per troy ounce on Wednesday, all in response to the hawkish message from Chair Powell after the Fed’s steady hand at its gathering.

Australia unemployment rate expected to signal a broadly stable labor market

Australia unemployment rate expected to signal a broadly stable labor market

The Australian Bureau of Statistics will release the May monthly employment report at 01:30 GMT on Thursday. The country is expected to have added 25K new job positions, while the Unemployment Rate is projected to hold steady at 4.1%.

In the Eurozone, inflation is also a monetary phenomenon

In the Eurozone, inflation is also a monetary phenomenon

Monetary aggregates continue to be closely monitored by the European Central Bank (ECB), a sign that, despite the passage of time and the increasing complexity of financing circuits, quantitative theory remains relevant. 

The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Forex MAJORS

Cryptocurrencies

Signatures

Best Brokers of 2025