Gold Price News and Forecast: XAU/USD break above 1800 is a strong buy signal


Will gold march forward on Fed's forward guidance?

The Fed could strengthen its forward guidance later this year. Given its dovish bias and the fresh viral outbreaks, it could be positive for gold prices.

Last week, the FOMC has published minutes of its meeting from June 9-10. They show a few interesting things. First of all, although the Fed officials could be satisfied with their monetary policy stance, they want to communicate better to the markets their intentions about the path of the federal funds rate and the Fed’s balance sheet. In other words, the FOMC is likely to strengthen their forward guidance later this year. Read More...

Gold

 

Gold: A break above 1800 is a strong buy signal

Gold Spot edges slowly back to very important resistance at 1787/90 & holds. Obviously this is key to direction in severely overbought conditions.

Silver Spot beat first resistance at 1806/09 hitting targets of 1821/23 & important resistance at the 1 month high at 1835/37. We topped exactly here. Read More...

Gold

 

Gold consolidates in a range below $1785 level

Gold was seen oscillating in a range below the $1785 level and remains well within the striking distance of multi-year tops set last Wednesday.

A combination of diverging forces failed to assist the commodity to build on its gains recorded over the past two trading sessions, rather led to a subdued/range-bound trading action on Tuesday. Growing worries about the ever-increasing COVID-19 cases globally extended some support to the safe-haven precious metal during the Asian session. Read More...

XAU/USD

Overview
Today last price 1776.03
Today Daily Change -8.43
Today Daily Change % -0.47
Today daily open 1784.46
 
Trends
Daily SMA20 1751.8
Daily SMA50 1729.9
Daily SMA100 1680.18
Daily SMA200 1594.69
 
Levels
Previous Daily High 1787.11
Previous Daily Low 1770.16
Previous Weekly High 1789.28
Previous Weekly Low 1757.7
Previous Monthly High 1785.91
Previous Monthly Low 1670.76
Daily Fibonacci 38.2% 1780.64
Daily Fibonacci 61.8% 1776.63
Daily Pivot Point S1 1774.04
Daily Pivot Point S2 1763.63
Daily Pivot Point S3 1757.09
Daily Pivot Point R1 1790.99
Daily Pivot Point R2 1797.53
Daily Pivot Point R3 1807.94

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