Gold Price News and Forecast: XAU/USD spot intraday – Key resistance at 1906.00


Gold Futures: Further gains look likely

CME Group’s flash readings for Gold futures markets noted traders increased their open interest positions by nearly 5K contracts on Tuesday, reversing at the same time four consecutive daily pullbacks. In the same direction, volume went up by around 10.8K contracts after three drops in a row.

Gold met resistance at the 55-day SMA.

Tuesday’s positive price action in Gold prices was on the back of rising open interest and volume, leaving the prospects of extra gains well on the table with the next hurdle of not at the October peaks in the $1,930 mark per ounce. Read more...

Gold

Gold spot intraday: Key resistance at 1906.00

Pivot (invalidation): 1906.00

Our preference
Short positions below 1906.00 with targets at 1881.00 & 1872.00 in extension.

Alternative scenario
Above 1906.00 look for further upside with 1916.00 & 1925.00 as targets.

Comment
As Long as 1906.00 is resistance, look for choppy price action with a bearish bias. Read more...

Gold

Gold Price Analysis: XAU/USD remains vulnerable near $1890 amid resurgent USD demand

Gold witnessed some fresh selling during the early European session and might now be headed back towards the lower end of its daily trading range.

Currently hovering around the $1890 region, a strong bid tone surrounding the US dollar was seen as one of the key factors exerting some pressure on the dollar-denominated commodity. Early results of the US election indicated that the race for the White House has turned out to be far tighter than expected. Read more...

XAU/USD

Overview
Today last price 1902.32
Today Daily Change -3.92
Today Daily Change % -0.21
Today daily open 1906.24
 
Trends
Daily SMA20 1900.62
Daily SMA50 1914.55
Daily SMA100 1893.12
Daily SMA200 1773.3
 
Levels
Previous Daily High 1910.64
Previous Daily Low 1887.12
Previous Weekly High 1911.46
Previous Weekly Low 1860
Previous Monthly High 1933.3
Previous Monthly Low 1860
Daily Fibonacci 38.2% 1901.66
Daily Fibonacci 61.8% 1896.1
Daily Pivot Point S1 1892.03
Daily Pivot Point S2 1877.81
Daily Pivot Point S3 1868.51
Daily Pivot Point R1 1915.55
Daily Pivot Point R2 1924.85
Daily Pivot Point R3 1939.07

 

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