Gold Price News and Forecast: XAU/USD bulls await more clues above $1,800

FXStreet Team FXStreet

Gold Price Analysis: Hovers near 9-year high of $1,820 hit on Monday

Gold continues to trade near the nine-year high of $1,820 reached on Monday. The metal is up 20% on a year-to-date basis. The rally could be associated with the record monetary and fiscal stimulus lifelines launched by the major central banks and governments to counter the coronavirus-induced slowdown and the resulting negative real or inflation-adjusted government bond yield.

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Gold Price Analysis: XAU/USD bulls await more clues above $1,800

Gold prices ease to $1,817.90, intraday low of $1,815.92, during the early Tuesday. Even so, the bullion remains near the highest levels since September 2011, $1,820.61, marked the previous day. While tracking the reasons, US dollar weakness becomes the key concern amid the present risk-on mood.

XAU/USD

Overview
Today last price	1818.96
Today Daily Change	1.30
Today Daily Change %	0.07
Today daily open	1817.66

Trends
Daily SMA20	1788.94
Daily SMA50	1750.65
Daily SMA100	1698.72
Daily SMA200	1610.22

Levels
Previous Daily High	1820.61
Previous Daily Low	1805.86
Previous Weekly High	1815.1
Previous Weekly Low	1790.42
Previous Monthly High	1785.91
Previous Monthly Low	1670.76
Daily Fibonacci 38.2%	1814.98
Daily Fibonacci 61.8%	1811.49
Daily Pivot Point S1	1808.81
Daily Pivot Point S2	1799.96
Daily Pivot Point S3	1794.06
Daily Pivot Point R1	1823.56
Daily Pivot Point R2	1829.46
Daily Pivot Point R3	1838.31

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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A hot US economy is supposed to sink Gold. It didn't. Here's why

Gold (XAU/USD) remains under pressure near $4,000, as stronger-than-expected United States (US) economic data reinforce expectations of another Federal Reserve (Fed) interest rate hike in December. Economic growth is accelerating, inflation remains elevated, and borrowing costs could rise further.