Gold Price News and Forecast: Sellers to dominate XAU/USD while below $1,800


Gold Price Analysis: XAU/USD continues to push higher, next hurdle aligns at $1,805

After spending the first half of the day in a relatively tight range a little above $1,780, the XAU/USD pair gained traction and rose to a daily high of $1,802. As of writing, the pair was up 0.75% on the day at $1,797.

On the 4-hour chart, the Relative Strength Index (RSI) indicator is edging higher toward 60, suggesting that gold has more room on the upside before becoming technically overbought. Read more...

XAUUSD

Gold Price Analysis: Sellers to dominate XAU/USD while below $1,800

Gold snapped a six-day losing streak on Friday and closed around $1,780 but lost more than 2% on a weekly basis. XAU/USD could extend losses toward the $1,750 level, FXStreet’s Eren Sengezer reports.

“On Tuesday, the Conference Board’s Consumer Confidence Index from the US will be watched closely by market participants. As we have seen in the past couple of weeks, a positive reading could help the USD gather strength and force XAU/USD to remain on the back foot.” Read more...

Gold: Suggestions of tapering to put further pressure on XAU/USD –" ING

Growing confidence in the global recovery, especially in the US, is leading to speculation over when the Fed might take its foot off the accelerator and buy fewer Treasuries and Agencies. Any tapering suggestion would put further pressure on gold, strategists at ING Bank report.

“The rise that we have already seen in Treasury yields so far this year has put a fair amount of pressure on gold, with it increasing the opportunity cost of holding it. Any suggestion of tapering would likely put only further selling pressure on the yellow metal.” Read more...

XAU/USD

Overview
Today last price 1808.2
Today Daily Change 26.16
Today Daily Change % 1.47
Today daily open 1782.04
 
Trends
Daily SMA20 1823.3
Daily SMA50 1853.19
Daily SMA100 1864.08
Daily SMA200 1859.14
 
Levels
Previous Daily High 1791.68
Previous Daily Low 1760.72
Previous Weekly High 1827.11
Previous Weekly Low 1760.72
Previous Monthly High 1959.42
Previous Monthly Low 1802.8
Daily Fibonacci 38.2% 1779.85
Daily Fibonacci 61.8% 1772.55
Daily Pivot Point S1 1764.61
Daily Pivot Point S2 1747.19
Daily Pivot Point S3 1733.65
Daily Pivot Point R1 1795.57
Daily Pivot Point R2 1809.11
Daily Pivot Point R3 1826.53

 

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