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

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.

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XAU/USD

Overview
Today last price1818.96
Today Daily Change1.30
Today Daily Change %0.07
Today daily open1817.66
 
Trends
Daily SMA201788.94
Daily SMA501750.65
Daily SMA1001698.72
Daily SMA2001610.22
 
Levels
Previous Daily High1820.61
Previous Daily Low1805.86
Previous Weekly High1815.1
Previous Weekly Low1790.42
Previous Monthly High1785.91
Previous Monthly Low1670.76
Daily Fibonacci 38.2%1814.98
Daily Fibonacci 61.8%1811.49
Daily Pivot Point S11808.81
Daily Pivot Point S21799.96
Daily Pivot Point S31794.06
Daily Pivot Point R11823.56
Daily Pivot Point R21829.46
Daily Pivot Point R31838.31

Author

FXStreet Team

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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