Gold Price News and Forecast: XAU/USD better bid after biggest weekly gain since August 2019

Gold Price Analysis: Better bid after biggest weekly gain since August 2019

Gold is on the offensive, having logged its biggest weekly gain in six months last week. The yellow metal is currently trading at $1,663 per Oz, representing over 1% gains on the day, having hit a high of $1,681 in early Asia. That was the highest level since February 2013. 

Prices rallied by over 3.7% last week. Gain bigger than that were last seen in the second week of August. 

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Gold pulls back from fresh seven-year high to sub-$1670 area, coronavirus in focus

Gold prices rallied to $1,681.25, the highest since February 2013, during early Monday. The yellow metal recently benefited from the rise in the coronavirus cases outside China while no respite from the contagion inside the dragon nation earlier fuelled the safe-haven. It should be noted that the bullion’s prices have been pulled back to $1667.18 by the press time.

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Today last price 1643.56
Today Daily Change 0.00
Today Daily Change % 0.00
Today daily open 1643.56
Daily SMA20 1582.32
Daily SMA50 1550.93
Daily SMA100 1515.19
Daily SMA200 1474.38
Previous Daily High 1649.32
Previous Daily Low 1619.02
Previous Weekly High 1649.32
Previous Weekly Low 1578.88
Previous Monthly High 1611.53
Previous Monthly Low 1517.1
Daily Fibonacci 38.2% 1637.75
Daily Fibonacci 61.8% 1630.59
Daily Pivot Point S1 1625.28
Daily Pivot Point S2 1607
Daily Pivot Point S3 1594.98
Daily Pivot Point R1 1655.58
Daily Pivot Point R2 1667.6
Daily Pivot Point R3 1685.88


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EUR/USD: At risk of extending its slide

The greenback closed the week appreciating against most major rivals, although EUR/USD settled in the 1.1780 price zone, holding on to modest weekly gains. EUR/USD decline corrective on the broader view but could extend its slump in the shorter-term.


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The GBP/USD pair finished the week with modest losses at 1.3050, giving up to the dollar’s demand at the end of the week. The Cable is trading above the 1.3000 level, which limits the bearish potential.


Gold: Acceptance above $2050 critical to revive the uptrend

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Bitcoin may extend the recovery once Gold resumes the rally

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