Gold Price Analysis: XAU/USD trades below 200-day MA for first since March

Gold has flipped the 200-day SMA support into resistance.
The breakdown has opened the doors to support at $1,765.

Omkar Godbole FXStreet Contributor

Gold is trading below the widely-followed 200-day Simple Moving Average (SMA) for the first time since March.

The long-term technical line is currently located at $1,800 and the metal is changing hands near $1,783 per ounce, representing a 0.25% loss on the day.

The yellow metal closed below the 200-day SMA on Friday, exposing deeper support at $1,765 (May 18 low). The breakdown has been reinforced by the bull failure at the former support-turned-hurdle of the 200-day SMA seen early today.

While the 14-day relative strength index has dropped below 30 to indicate oversold condition, the indicator would gain credence if and when signs of seller exhaustion emerge on the price chart.

The immediate bearish view would be invalidated if the metal finds acceptance above the 200-day SMA at $1,800.

Daily chart

Trend: Bearish

Technical levels

XAU/USD

Overview
Today last price	1783.31
Today Daily Change	-4.37
Today Daily Change %	-0.24
Today daily open	1787.68

Trends
Daily SMA20	1870.03
Daily SMA50	1885.53
Daily SMA100	1910.3
Daily SMA200	1799.2

Levels
Previous Daily High	1813.89
Previous Daily Low	1774.4
Previous Weekly High	1876.14
Previous Weekly Low	1774.4
Previous Monthly High	1933.3
Previous Monthly Low	1860
Daily Fibonacci 38.2%	1789.49
Daily Fibonacci 61.8%	1798.8
Daily Pivot Point S1	1770.09
Daily Pivot Point S2	1752.5
Daily Pivot Point S3	1730.6
Daily Pivot Point R1	1809.58
Daily Pivot Point R2	1831.48
Daily Pivot Point R3	1849.07

Author

Omkar Godbole

FXStreet Contributor

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

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.