Gold Price Analysis: XAU/USD back under pressure after falling sharply to $1836

  • DXY holds onto modest losses, falling after rising during four consecutive days.
  • Gold unable to hold above $1850, looks vulnerable for a test of $1830/35.

Gold is trading around the same level it closed on Monday, around $1845. The yellow metal tumbled from two-day highs above $1860 to $1836, in two hours. It then rebounded, unable to recover $1850.

Volatility in XAU/USD soared even as financial markets remained mostly quiet moving sideways. The US Dollar is falling at a modest pace. Currency pairs like EUR/USD, USD/JPY, USD/CHF and NZD/USD are moving sideways, without a clear trend. US yields continue to be a key driver. The 10-year hit 1.18% for the first time since March.

From a technical perspective, gold looks biased on the downside in the short-term, while below the $1850 zone, a confluence of an important horizontal level and the 20 and 55-hours moving averages. A recovery above would add support to the yellow metal.

The sharp reversal on Tuesday found support above $1835. A break lower would expose the recent low at $1817 that protects the $1800 zone.

Technical levels


Today last price 1845.24
Today Daily Change -0.02
Today Daily Change % -0.00
Today daily open 1845.26
Daily SMA20 1885.83
Daily SMA50 1867.93
Daily SMA100 1891.46
Daily SMA200 1840.44
Previous Daily High 1856.82
Previous Daily Low 1816.96
Previous Weekly High 1959.42
Previous Weekly Low 1828.27
Previous Monthly High 1906.87
Previous Monthly Low 1775.52
Daily Fibonacci 38.2% 1832.19
Daily Fibonacci 61.8% 1841.59
Daily Pivot Point S1 1822.54
Daily Pivot Point S2 1799.82
Daily Pivot Point S3 1782.68
Daily Pivot Point R1 1862.4
Daily Pivot Point R2 1879.54
Daily Pivot Point R3 1902.26



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.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD hits fresh one-month low amid souring market mood

EUR/USD has been extending its falls and dips below 1.21 as US retail sales badly disappointed and the worsening mood is supporting the safe-haven dollar. Markets digest Biden's stimulus plan. US Consumer Sentiment declined to 59.2 points. 


GBP/USD retreats toward 1.36 amid fresh dollar strength

GBP/US has pared its gains and falls toward 1.36 as the dollar gains ground. The UK economy shrank by 2.6% in November, better than estimated. The UK is ramping up its vaccination campaign and PM Johnson is pressured to ease the lockdown. 


Gold extends sideways grind near $1,850

The XAU/USD pair registered small daily gains on Thursday but struggled to extend its recovery amid a lack of significant fundamental drivers on Friday. As of writing, the pair was up 0.15% on a daily basis at $1,849.

Gold news

Forex Today: Markets “sell the fact” on Biden's stimulus, dollar rises, retail sales eyed

Markets are on the back foot after Biden hinted about tax hikes while introducing stimulus. The safe-haven dollar is edging higher despite Powell's pledge to keep monetary policy accommodative. 

Read more

DXY breaks above key downtrend, eyes move above 91.00

USD has been strongly supported on what has shaped up to be a very much risk off final trading day of the week. Most G10/USD pairs have seen significant weakness, aside from CHF/USD and JPY/USD, given that the two currencies are also considered “safe havens”.

US Dollar Index News