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.

USD/JPY eyes August swing low, near 155.20 ahead of US NFP

USD/JPY retests the August monthly swing low during the Asian session on Friday as a more hawkish repricing of BoJ rate-hike bets and a suspected intervention continue to underpin the Japanese Yen. Meanwhile, the US Dollar is seen consolidating the previous day's heavy losses amid soft US bond yields, further weighing on the currency pair as traders keenly await the US NFP report.

AUD/USD consolidates above 0.7200; US NFP awaited

AUD/USD holds steady above 0.7200, near its highest level since mid-May, as bulls await the US NFP report for more cues on the Fed's policy path before placing fresh bets. Meanwhile, the recent decline in US bond yields keeps the US Dollar depressed near its lowest level in over a week and acts as a tailwind for the Aussie amid the RBA's hawkish tilt.

Gold tumbles as blockbuster US NFP lift US Dollar, Treasury yields

Gold (XAU/USD) falls sharply on Friday, snapping a two-day recovery after the US Nonfarm Payrolls (NFP) report surprised strongly to the upside. The metal briefly climbed above $4,500 on Thursday, gaining nearly 2%, but has since erased a large part of that advance.

Crypto’s $638 million buyback boom may not be as bullish as it looks

Decentralized Finance (DeFi) protocols reportedly spent $638 million to buy back their native tokens in August, up 17% from a year earlier. On the surface, the buyback trend suggests the cryptocurrency industry is maturing fast, adopting one of Wall Street’s oldest tools to bolster valuations and distribute revenue. The headline becomes less impressive once the number is opened up.

Why hawkish Bank of Japan expectations aren't enough to sustain the Japanese Yen rally

The Japanese Yen (JPY) experienced a sudden burst higher after falling back below the 160.00 psychological mark against the US Dollar (USD) earlier this week amid a more hawkish repricing of Bank of Japan (BoJ) rate hike expectations.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.