Gold Price News and Forecast: XAU/USD bulls catch a breather below $1,900


Gold Price Analysis: XAU/USD bulls catch a breather below $1,900

Gold traders are waiting for extra directions to extend the biggest recovery move in a month. In doing so, the yellow metal fades the previous day’s upside momentum near $1,880 amid the pre-Tokyo open Asian trading on Tuesday.

Given the commodity buyers’ pause, coupled with a lack of major data/event ahead of the key US Presidential Election debate, concerns over the short-term strength of the safe-haven metal can’t be ruled out. 

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XAU/USD

Overview
Today last price 1883.54
Today Daily Change 2.10
Today Daily Change % 0.11
Today daily open 1881.44
 
Trends
Daily SMA20 1926.08
Daily SMA50 1943.86
Daily SMA100 1847.25
Daily SMA200 1726.84
 
Levels
Previous Daily High 1883.08
Previous Daily Low 1848.82
Previous Weekly High 1955.66
Previous Weekly Low 1848.84
Previous Monthly High 2075.32
Previous Monthly Low 1863.24
Daily Fibonacci 38.2% 1869.99
Daily Fibonacci 61.8% 1861.91
Daily Pivot Point S1 1851.07
Daily Pivot Point S2 1840.38
Daily Pivot Point S3 1828.3
Daily Pivot Point R1 1873.84
Daily Pivot Point R2 1885.92
Daily Pivot Point R3 1896.61

 

Gold: There is still little sign of recovery

The corrective run on gold may have lost some of its momentum in recent sessions, but moving into the European session on Monday, as yet there is still little sign of recovery. The move lower continues to trade around what we see as a tentative uptrend of the past six months (which sits around $1858 today).However, this comes as gold closed below $1863 on Friday (the old August spike low) and continues to tick lower early today. 

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