|

Gold Price Analysis: XAU/USD risks ending 3-day winning trend

  • Gold's hourly chart shows a bearish divergence of RSI. 
  • The metal could snap its three-day winning streak. 

Gold gained over 0.5% to $1,840 per ounce on Thursday, confirming a three-day winning streak and erasing more than 505 of the previous week's decline from $14,869 to $1,774. 

However, the recovery rally could run out of steam, as the hourly chart has violated the trendline rising from recent lows. Further, the hourly chart Relative Strength Index has created lower highs, contradicting higher highs on the price chart. The bearish divergence indicates the bounce from the previous week's low has run out of steam. 

The hourly chart shows immediate support is located at $1,823. A violation there would expose the 5-day Simple Moving Average at $1,819. On the higher side, resistance is seen at $1,850. The metal is currently trading at $1,838 per ounce. 

Hourly chart

Trend: Bearish

Technical levels

XAU/USD

Overview
Today last price1838.32
Today Daily Change-3.94
Today Daily Change %-0.21
Today daily open1842.26
 
Trends
Daily SMA201850.33
Daily SMA501879.89
Daily SMA1001910.72
Daily SMA2001802.66
 
Levels
Previous Daily High1844.02
Previous Daily Low1823.77
Previous Weekly High1876.14
Previous Weekly Low1774.4
Previous Monthly High1965.58
Previous Monthly Low1764.6
Daily Fibonacci 38.2%1836.28
Daily Fibonacci 61.8%1831.51
Daily Pivot Point S11829.35
Daily Pivot Point S21816.43
Daily Pivot Point S31809.1
Daily Pivot Point R11849.6
Daily Pivot Point R21856.93
Daily Pivot Point R31869.85

Author

Omkar Godbole

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

More from Omkar Godbole
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

EUR/USD gathers recovery momentum, trades near 1.1750

Following the correction seen in the second half of the previous week, EUR/USD gathers bullish momentum and trades in positive territory near 1.1750. The US Dollar (USD) struggles to attract buyers and supports the pair as investors await Tuesday's GDP data ahead of the Christmas holiday. 

GBP/USD rises toward 1.3450 on renewed USD weakness

GBP/USD turns north on Monday and avances to the 1.3450 region. The US Dollar (USD) stays on the back foot to begin the new week as investors adjust their positions before tomorrow's third-quarter growth data, helping the pair stretch higher.

Gold not done with record highs

Gold extends its rally in the American session on Monday and trades at a new all-time-high above $4,420, gaining nearly 2% on a daily basis. The potential for a re-escalation of the tensions in the Middle East on news of Israel planning to attack Iran allows Gold to capitalize on safe-haven flows.

Top 10 crypto predictions for 2026: Institutional demand and big banks could lift Bitcoin

Bitcoin could hit record highs in 2026, according to Grayscale and top crypto asset managers. Institutional demand and digital-asset treasury companies set to catalyze gains in Bitcoin.

Ten questions that matter going into 2026

2026 may be less about a neat “base case” and more about a regime shift—the market can reprice what matters most (growth, inflation, fiscal, geopolitics, concentration). The biggest trap is false comfort: the same trades can look defensive… right up until they become crowded.

XRP steadies above $1.90 support as fund inflows and retail demand rise

Ripple (XRP) is stable above support at $1.90 at the time of writing on Monday, after several attempts to break above the $2.00 hurdle failed to materialize last week. Meanwhile, institutional interest in the cross-border remittance token has remained steady.