Gold Price News and Forecast: XAU/USD


Gold Price Analysis: XAU/USD steadies above $1,850, key levels remain intact

The XAU/USD pair closed the first day of the week virtually unchanged at $1,855 and seems to be having a difficult time making a decisive move in either direction on Tuesday. As of writing, the pair was posting small daily losses at $1,854.

XAU/USD technical outlook

The Relative Strength Index (RSI) indicator on the daily chart is staying below 50 for the second straight day on Tuesday, suggesting that the bullish momentum is struggling to build up. However, the 200-day SMA, currently located at $1,850 continues to act as a key support and sellers may want to wait to see a daily close below that level before dragging gold lower. Below $1,850, $1,845 (Fibonacci 61.8% retracement of the December rally) could be seen as the next support ahead of $1,837 (Jan. 22 low).

Read more...

Will Biden’s executive blitzkrieg defeat gold?

A new sheriff is in in town, and he’s making some rearrangements. Will the new order of things support the price of gold?

What a blitzkrieg! Joe Biden certainly wastes no time in signing executive orders. Since inauguration, he introduced several policies, including mandating masks on federal property, in airports and on certain public transportation, and the end of a travel bank on some countries. Biden also terminated the construction of the wall at the Mexican border, halted the withdrawal from the WHO and placed the U.S. back on the path to rejoining the Paris climate accord.

Read more...

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

EUR/USD dips below 1.19 as US yields resume rise

EUR/USD has dipped below 1.19, hitting a new 2021 low. US ten-year yields have resumed their gains toward 1.60% after robust US jobs figures and the Fed's reluctance to intervene. German industrial output disappointed with -2.5% in January.

EUR/USD News

GBP/USD pressured toward 1.38 amid worsening mood

GBP/USD has been under pressure despite Britain's reopening and due to higher US yields. BOE Governor is slated to speak later in the day.

GBP/USD News

XAU/USD drops back below $1700 amid surging Treasury yields

XAU/USD’s recovery stalls, faces rejection at 21-SMA on the 4H chart. RSI has turned south, pointing to more downside in the near-term. The US Treasury yields resume their rally, driving US dollar higher.

Gold News

Cardano moves closer to colossal rally eyeing $2

Cardano is trading at that apex of a symmetrical triangle as a massive breakout lingers. A break above the 50 SMA on the 4-hour chart will add weight to the expected upswing. The slump in network growth could hamper the bullish outlook and delay the breakout.

Read more

US Dollar Index looks firmer above 92.00

The greenback, when tracked by the US Dollar Index (DXY), extends the march north to new yearly highs in the 92.15/20 band at the beginning of the week.

US Dollar Index News

Forex MAJORS

Cryptocurrencies

Signatures