Gold Price Analysis: XAU/USD sidelined below $1480/oz

  • Gold stays stuck in a sideways market in the last month of 2019. 
  • The level to beat for buyers is the 1480/85 resistance zone.
  • The main support is seen at the 1460/50 price zone.

Gold daily chart

XAU/USD has been trading in an unusual tight trading range for the second consecutive day below the 1480 resistance and the 50-day simple moving averages (DMAs). 

Gold four-hour chart 

XAU/USD is stuck below the 1480/85 resistance zone while trading above its main SMAs on the four-hour chart. The market is advancing very slowly and bulls are likely waiting for a catalyst to break above the 1480/85 resistance zone. If the breakout has follow-through, the next resistances are seen at the 1494 and 1510 level. On the flip side, if bears fade 1480/85, the metal could drop towards the 1460/50 support zone. 

Additional key levels


Today last price 1476.25
Today Daily Change -0.19
Today Daily Change % -0.01
Today daily open 1476.44
Daily SMA20 1467.03
Daily SMA50 1479.11
Daily SMA100 1490.25
Daily SMA200 1410.45
Previous Daily High 1479.8
Previous Daily Low 1473.28
Previous Weekly High 1486.58
Previous Weekly Low 1458.82
Previous Monthly High 1515.38
Previous Monthly Low 1445.8
Daily Fibonacci 38.2% 1477.31
Daily Fibonacci 61.8% 1475.77
Daily Pivot Point S1 1473.22
Daily Pivot Point S2 1469.99
Daily Pivot Point S3 1466.7
Daily Pivot Point R1 1479.74
Daily Pivot Point R2 1483.03
Daily Pivot Point R3 1486.26



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

AUD/USD regains traction to 0.7800 on upbeat Australian trade numbers, ignores soft Retail Sales

AUD/USD picks up bids from the intraday low on strong trade data. The quote extends bounce off 0.7752 following the upbeat trade figures for January while also paying a little heed to the soft Retail Sales figure for the stated month.


GBP/USD: Drops towards 1.3900 on the way to two-week-old support line

GBP/USD teases intraday low of 1.3921, currently down 0.14% around 1.3932, during Thursday’s Asian session. In doing so, the cable stretches the pullback from a one-week-old resistance line as MACD recedes bullish bias.


Gold: Bears looking to test bull's commitments at $1,698

The gold price is no longer showing signs of an immediate advance back to test $1,760. Instead, gold failed to extend beyond $1,740 and printed a fresh low to $1,702 as the US dollar and yields came up for air.

Gold News

Dogecoin price on the brink of a 40% explosion towards $0.07

Dogecoin price has been trading sideways for the past two days and inside a downtrend since its new all-time high of $0.087 on February 7. Now, the favorite canine-cryptocurrency is ready for a new leg up.

Read more

DXY continues to gain on Wednesday, eyes 91.60

US dollar firm and approaching Feb 4th highs from a significant technical support structure. US economy moderately gathering pace according to the Fed's Beige Book.

US Dollar Index News