Gold Price News and Forecast: XAU/USD buyers aim to cross $1,800


Gold Price Analysis: XAU/USD looking to the $1,800s behind highest futures finish since 2011

The price of XAU/USD is trading at $1,781.17 at the time of writing, virtually flat on the day so far, sticking to a tight range between the low of $1,780 and the high of $1,784. Overnight, on Tuesday's US session, gold futures topped $1,800 an ounce to mark their highest finish since 2011. August gold rose $19.30, or 1.1%, to settle at $1,800.50 an ounce. 

That was the highest finish for a most-active contract since Sept. 2011. Bulls will cast minds back to August 2011, when gold futures settled at a record $1,891.90. The uncertainty pertaining to the coronavirus pandemic is attracting flows into the metal’s safe-haven appeal.

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XAU/USD

Overview
Today last price 1781.56
Today Daily Change 1.13
Today Daily Change % 0.06
Today daily open 1780.43
 
Trends
Daily SMA20 1736.34
Daily SMA50 1725.54
Daily SMA100 1672.07
Daily SMA200 1589.35
 
Levels
Previous Daily High 1785.91
Previous Daily Low 1764.7
Previous Weekly High 1779.41
Previous Weekly Low 1742.97
Previous Monthly High 1785.91
Previous Monthly Low 1670.76
Daily Fibonacci 38.2% 1777.81
Daily Fibonacci 61.8% 1772.8
Daily Pivot Point S1 1768.12
Daily Pivot Point S2 1755.8
Daily Pivot Point S3 1746.91
Daily Pivot Point R1 1789.33
Daily Pivot Point R2 1798.22
Daily Pivot Point R3 1810.54

 

Gold Price Analysis: XAU/USD buyers aim to cross $1,800

Gold prices retrace from fresh high since October 2012 to around $1,780 amid the early Wednesday morning in Asia. The bullion previously surged to $1,785.91 while staying inside an upward sloping trend channel stretched from May 2019. Also favoring the precious metal’s upside were bullish signals by the MACD.

As a result, the traders might continue their efforts to conquer the year 2012 tope near $1,795/96. Additionally, the $1,800 threshold and November 2011 peak surrounding $1,803 could lure the optimists afterward.
 
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