Gold Price News and Forecast: XAU/USD breaks above $1818 to confirm bearish exhaustion


Gold Price Analysis: XAU/USD trades with modest gains above $1810 level, lacks follow-through

Gold edged higher during the Asian session on Thursday and was last seen trading with modest daily gains, just above the $1810 level.

Following the previous day's two-way/directionless price move, the precious metal managed to gain some positive traction amid a softer tone surrounding the US dollar. The incoming softer US macro releases added to worries about the economic fallout from the continuous surge in new coronavirus cases and dragged the USD to its lowest level in more than two months. This, in turn, was seen as one of the key factors lending some support to the dollar-denominated commodity. Read more...

Gold: Break above $1818 to confirm bearish exhaustion

Gold (XAU/USD) attempted a tepid recovery from near four-month troughs on Wednesday but faced rejection at higher levels and finished the day almost unchanged around $1807. The yellow metal treads water on Thanksgiving Day-quiet trading as Wednesday's doji candle calls for indecision while $1800 holds, FXStreet's Dhwani Mehta briefs. Read more...

Gold Futures: Extra downside seen limited

Open interest in Gold futures markets shrunk for the second session in a row on Wednesday, this time by around 9.4K contracts according to preliminary readings from CME Group. Volume, in the same line, went down by around 168.9K after two consecutive daily builds.

Gold remains supported around $1,800/oz

The leg lower in prices of gold met solid contention in the $1,800 region per ounce so far. Thursday's downtick was on the back on shrinking open interest and volume, hinting at the idea that a deeper pullback is not favoured at least in the near-term. Read more...

XAU/USD

Overview
Today last price 1814.34
Today Daily Change 7.56
Today Daily Change % 0.42
Today daily open 1806.78
 
Trends
Daily SMA20 1877.54
Daily SMA50 1891.48
Daily SMA100 1910.36
Daily SMA200 1797.38
 
Levels
Previous Daily High 1817.8
Previous Daily Low 1801.7
Previous Weekly High 1899.14
Previous Weekly Low 1852.8
Previous Monthly High 1933.3
Previous Monthly Low 1860
Daily Fibonacci 38.2% 1807.85
Daily Fibonacci 61.8% 1811.65
Daily Pivot Point S1 1799.72
Daily Pivot Point S2 1792.66
Daily Pivot Point S3 1783.62
Daily Pivot Point R1 1815.82
Daily Pivot Point R2 1824.86
Daily Pivot Point R3 1831.92

 

 

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