Gold Price News and Forecast: XAU/USD aims at March high levels


Gold Price Analysis: XAU/USD inches closer to $1750 amid falling Treasury yields

Gold (XAU/USD) is consolidating Tuesday’s 1% rally in opening trades this Wednesday, sitting at the highest levels in two weeks above $1740.

Gold remains poised to extend the recent rally, with eyes set on the $1750 key barrier, as the US dollar nurses losses across the board while holding near ten-day lows amid a rout in the Treasury yields across the curve.

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XAG/USD

Overview
Today last price 25.14
Today Daily Change 0.25
Today Daily Change % 1.00
Today daily open 24.89
 
Trends
Daily SMA20 25.45
Daily SMA50 26.27
Daily SMA100 25.66
Daily SMA200 24.93
 
Levels
Previous Daily High 25.08
Previous Daily Low 24.61
Previous Weekly High 25.11
Previous Weekly Low 23.78
Previous Monthly High 27.08
Previous Monthly Low 23.78
Daily Fibonacci 38.2% 24.79
Daily Fibonacci 61.8% 24.9
Daily Pivot Point S1 24.64
Daily Pivot Point S2 24.39
Daily Pivot Point S3 24.17
Daily Pivot Point R1 25.11
Daily Pivot Point R2 25.33
Daily Pivot Point R3 25.58

 

Gold analysis: Aims at March high levels

Last week, the yellow metal broke the resistance zone near 1,725.00 and surged above it. Afterwards, the zone was confirmed as support before the surge of the commodity price resumed. 

On Tuesday, the bullion's price was heading to the resistance zone above the 1,745.00 level. This zone provide the metal with resistance during the second part of March. Namely, it reversed an attempted recovery. 

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