Gold Price News and Forecast: Gold Further losses are likely near-term

FXStreet Team FXStreet

Gold Price Analysis: First hurdle crossed, next bullish levels in sight – Confluence Detector

Gold has recaptured the round $1,800 level and also topped a critical hurdle mentioned earlier in the day. The road is now open for XAU.USD to continue to higher ground.

The Technical Confluences Indicator is showing that the next target is at $1,807, which is the convergence of the Fibonacci 61.8% one-day, the Bollinger Band 1h-Upper, the Fibonacci 23.6% one-week, and more. Read more...

Gold Futures: Further losses are likely near-term

Open interest and volume in Gold futures markets increased by just 476 contracts and by around 19.5K contracts, respectively, on Thursday according to preliminary figures from CME Group.

Gold sees interim support near $1,740/oz

Thursday's price action in Gold was in tandem with rising open interest and volume. That said, the ounce troy of the precious metal closed below the key $1,800 barrier on Thursday and the corrective decline could extend to the 55-day SMA, today at $1,742. Read more...

Gold steadily climbs back to $1800 mark

Gold edged higher through the early European session and steadily climbed back to the $1800 mark, recovering a part of the previous day's losses.

Concerns about the ever-increasing coronavirus cases and worsening US-China relations underpinned the precious metal's perceived safe-haven demand. This coupled with a subdued US dollar price action extended some additional support to the dollar-denominated commodity. Read more...

XAU/USD

Overview
Today last price	1804.92
Today Daily Change	7.64
Today Daily Change %	0.43
Today daily open	1797.28

Trends
Daily SMA20	1782.52
Daily SMA50	1746.11
Daily SMA100	1694.6
Daily SMA200	1607

Levels
Previous Daily High	1813.44
Previous Daily Low	1795.04
Previous Weekly High	1818.17
Previous Weekly Low	1770.16
Previous Monthly High	1785.91
Previous Monthly Low	1670.76
Daily Fibonacci 38.2%	1802.07
Daily Fibonacci 61.8%	1806.41
Daily Pivot Point S1	1790.4
Daily Pivot Point S2	1783.52
Daily Pivot Point S3	1772
Daily Pivot Point R1	1808.8
Daily Pivot Point R2	1820.32
Daily Pivot Point R3	1827.2

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

GBP/USD loses momentum, flirts with 1.3200

GBP/USD is struggling to maintain its positive bias on Thursday, retreating toward the 1.3200 region in response to the pick in the buying interest around the Greenback. That said, Cable remains under scrutiny as cautious market sentiment keeps investors focused on the US-Iran conflict and political effervescence in the UK.

EUR/USD trims gains, challenges 1.1400

EUR/USD now gives away part of its earlier advance, receding toward the 1.1400 contention zone on Thursday. Meanwhile, the pair’s recovery comes amid extra losses in the US Dollar, at the time when while investors continue to monitor developments in the Middle East and sentiment surrounding global technology stocks.

Gold remains bid and close to $4,100

Gold accelerates its recovery and approaches the key $4,000 mark per troy ounce at the end of the week, adding to Thursday’s advance. However, expectations for a hawkish Fed remain steady and keep the yellow metal’s potential upside contained.

Crypto Today: Bitcoin at $60,000, Ethereum at $1,500, and XRP at $1 face a make-or-break test

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading in the red on Friday after three consecutive days of losses, testing their respective make-or-break support levels.

Week ahead – NFP report to challenge Dollar strength and the hawkish Fed

Dollar strength dominates markets, as the hawkish Fed overshadows geopolitics and lower oil prices. NFP week could drive September Fed hike expectations and boost market volatility. The euro lacks fresh bullish catalysts, all eyes on the preliminary inflation report and the ECB Forum.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.