Gold Price News and Forecast: XAU/USD attempting to bounce up from one-month lows at $1860

FXStreet Team FXStreet

Gold Price Analysis: XAU/USD stays depressed around five-week bottom above $1,850

Gold prices drop to $1, 866.36 amid the initial Asian session trading on Friday. The bullion dropped to the fresh low since September 28 on Thursday as the King dollar benefited from the upbeat US data and risk-off mood. However, a lack of major catalysts after the US session pushed the metal traders to look for extra hints before stretching the two-day downtrend towards challenging the monthly low of $1,860.

XAU/USD

Overview
Today last price	1868.44
Today Daily Change	0.58
Today Daily Change %	0.03
Today daily open	1867.86

Trends
Daily SMA20	1901.01
Daily SMA50	1916.89
Daily SMA100	1888.15
Daily SMA200	1768.49

Levels
Previous Daily High	1885.05
Previous Daily Low	1860
Previous Weekly High	1931.54
Previous Weekly Low	1894.48
Previous Monthly High	1992.42
Previous Monthly Low	1848.82
Daily Fibonacci 38.2%	1869.57
Daily Fibonacci 61.8%	1875.48
Daily Pivot Point S1	1856.89
Daily Pivot Point S2	1845.92
Daily Pivot Point S3	1831.84
Daily Pivot Point R1	1881.94
Daily Pivot Point R2	1896.02
Daily Pivot Point R3	1906.99

Gold Price Analysis: XAU/USD attempting to bounce up from one-month lows at $1860

Gold futures are attempting to bounce up after having depreciated more than 2% over the last two days. The yellow metal has picked up after hitting one-month lows at $1,860 although the upside moves are finding sellers at the $1,875 region.

XAU/USD’s bearish reversal from mid-October highs above $1,930 accelerated on Wednesday after breaking below the bottom of the last week's trading rage, at $1,890 area.

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