Gold Price Analysis: XAU/USD remains trapped between 50 and 200-DMA ahead of US data

Gold awaits US data for a clear direction
50-DMA caps the upside, 200-DMA offers strong support.
Daily RSI trades flat but in the bearish region.

Dhwani Mehta FXStreet

Gold (XAU/USD) trades on the front foot this Friday amid dovish comments from the Fed Chief Powell.

However, gold’s further upside remains elusive, as the safe-haven demand for the US dollar is on the rise, with markets uncertain about the details of President-elect Joe Biden’s $1.9 stimulus package unveiled earlier in the Asian session.

Investors also turn cautious ahead of the critical US Retail Sales, especially after Thursday’s disappointing weekly Jobless Claims.

At the time of writing, gold trades at $1852.40, up 0.29% on the day, having found dip-demand at lower levels earlier this week.

Gold Price Chart: Daily

As observed in the daily chart, gold remains locked in a familiar range so far this week, with the upside attempts capped by the bearish 50-daily moving average (DMA), now at $1862.

Meanwhile, the upward-sloping 200-DMA at $1844 keeps the buyers hopeful. However, a sense of caution prevails, as the 14-day Relative Strength Index (RSI) still trends in the bearish region, now at 44.18.

The next relevant support is seen at Thursday’s low of $1829, below which the January 11 low of $1817 could be challenged.

Alternatively, acceptance above the 50-DMA hurdle could open doors for a test of the 21-DMA at $1882. Further up, the 100-DMA at $1888 would be on the buyers’ radars.

Gold Additional levels

XAU/USD

Overview
Today last price	1852.40
Today Daily Change	5.70
Today Daily Change %	0.31
Today daily open	1847.32

Trends
Daily SMA20	1883.27
Daily SMA50	1863.76
Daily SMA100	1888.86
Daily SMA200	1843.43

Levels
Previous Daily High	1857.6
Previous Daily Low	1828.54
Previous Weekly High	1959.42
Previous Weekly Low	1828.27
Previous Monthly High	1906.87
Previous Monthly Low	1775.52
Daily Fibonacci 38.2%	1839.64
Daily Fibonacci 61.8%	1846.5
Daily Pivot Point S1	1831.37
Daily Pivot Point S2	1815.43
Daily Pivot Point S3	1802.31
Daily Pivot Point R1	1860.43
Daily Pivot Point R2	1873.55
Daily Pivot Point R3	1889.49

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

AUD/USD remains depressed near 0.6950 after RBA minutes

AUD/USD attracts follow-through selling during Tuesday’s Asian session, looking to extend the overnight rejection slide from 0.7000, or a two-week top, following the release of RBA meeting Minutes. The US Dollar retains a bullish undertone near its highest level since April 2025 as energy-driven inflation risks keep December Fed rate hike bets firmly on the table. Adding to this, geopolitical risks further underpin the safe-haven USD.

USD/JPY extends retreat below 158.50 as intervention risks loom

USD/JPY is dropping below 158.50 in the Asian session on Tuesday, snapping a two-day winning streak and pulling back from an over two-week top touched the previous day, despite Japan's soft PPI inflation print. Bulls turn cautious amid speculation that authorities will step in to prop up the Japanese Yen, which, in turn, weighs on the pair.

Gold clings to gains just below $4,200

Gold fades Monday’s small pullback and picks up renewed pace, briefly flirting with the key $4,200 mark per troy ounce. The precious metal’s recovery comes in line with the fresh downward trend in the Greenback in combination with shrinking US Treasury yields across the board and easing tensions on the geopolitical front.

Bitcoin rebounds despite cautious sentiment

Bitcoin rebounds over 2%, trading above $83,500 on Tuesday, recovering the previous day’s losses. Persistent geopolitical tensions and mixed signals continue to weigh on risk appetite, keeping investors cautious despite BTC’s recovery.

US – Midterm update: Democratic lead holds three weeks before election

With three weeks until the US midterm election on 3 November, prediction markets are more or less unchanged. Polymarket continues to put the probability of a Democratic sweep at 60-65%. The House is seen as a fairly safe Democratic win, with a probability of around 90%.

Has Bitcoin really escaped the macro forces it was built to fight?

Over 17 years ago, Satoshi Nakamoto designed Bitcoin (BTC) on the back of a global financial crisis as an alternative to the global monetary system outside the control of central banks, governments and traditional intermediaries. This raises a key question: has Bitcoin really become independent of the macroeconomic forces it was built to challenge?