Gold Price Analysis: XAU/USD consolidates last week's gains around $1,810

XAU/USD is trading in a tight range at the start of the week.
Major European equity indexes are trading mixed on Monday.
Gold is likely to remain quiet in the remainder of the day.

Eren Sengezer FXStreet

The troy ounce of the precious metal closed the sixth straight week in the positive territory last Friday and started the new week in a calm manner. As of writing, the XAU/USD pair was virtually unchanged on a daily basis at $1,810.

Risk sentiment to continue to impact USD's performance

The broad-based selling pressure surrounding the greenback helped XAU/USD pair push higher in the second half of the previous week. The positive market environment, as reflected by rising global equity indexes, made it difficult for the greenback to find demand as a safe-haven and the US Dollar Index (DXY) closed the fourth straight week in the red.

On Monday, market sentiment looks mixed with the UK's FTSE 100 losing 0.65% and the Euro Stoxx 50 and Germany's DAX 30 gaining 0.12% and 0.32%, respectively. Nevertheless, the DXY posts small daily losses below 96, not allowing XAU/USD to turn south.

There won't be any significant macroeconomic data releases in the remainder of the day and investors will focus on Wall Street to get a sense of markets' risk perception. At the moment, the S&P 500 futures are down 0.3% on the day. If major equity indexes edge lower on Monday, the USD could start gathering strength and cause XAU/USD to lose its traction.

Technical levels to watch for

XAU/USD

Overview
Today last price	1810
Today Daily Change	0.18
Today Daily Change %	0.01
Today daily open	1809.82

Trends
Daily SMA20	1785.81
Daily SMA50	1748.25
Daily SMA100	1696.33
Daily SMA200	1608.58

Levels
Previous Daily High	1811.98
Previous Daily Low	1795.98
Previous Weekly High	1815.1
Previous Weekly Low	1790.42
Previous Monthly High	1785.91
Previous Monthly Low	1670.76
Daily Fibonacci 38.2%	1805.87
Daily Fibonacci 61.8%	1802.09
Daily Pivot Point S1	1799.87
Daily Pivot Point S2	1789.93
Daily Pivot Point S3	1783.87
Daily Pivot Point R1	1815.87
Daily Pivot Point R2	1821.93
Daily Pivot Point R3	1831.87

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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