Gold Price News and Forecast: XAU/USD climbs to three-week tops, above $1,745 ahead of Powell


Gold Futures: Extra rangebound on the cards

Open interest in Gold futures markets shrunk by more than 3K contracts on Wednesday, according to preliminary readings from CME Group. In the same line, volume went down by around 33K contracts, partially reversing the previous build.

Gold prices keep the consolidation theme well and sound for the time being. Wednesday’s downtick was amidst shrinking open interest and volume, leaving the probability of further upside somewhat contained. That said, the next hurdle of note still emerges at the $1,760 mark per ounce troy. Read more...

Gold

Gold Price Analysis: XAU/USD climbs to three-week tops, above $1,745 ahead of Powell

Gold held on to its intraday gains near three-week tops and is now looking to build on the momentum further beyond the $1,745-46 resistance zone.

A fresh leg down in the US Treasury bond yields undermined the US dollar, which, in turn, extended some support to the dollar-denominated commodity. That said, the underlying bullish sentiment kept a lid on any further gains for the safe-haven XAU/USD. Investors also seemed reluctant and preferred to wait for Fed Chair Jerome Powell's speech before placing any aggressive bets around the non-yielding yellow metal. Read more...

XAUUSD

Gold Price Analysis: XAU/USD clings to gains near two-week tops, around $1,745-46 hurdle

Gold refreshed intraday tops during the early European session, with bulls making a fresh attempt to clear a strong barrier near the $1,745-46 region.

Following the previous day's modest pullback, the precious metal managed to regain some positive traction on Thursday. The US dollar struggled to capitalize on the previous day's modest bounce from over two-week lows, instead edged lower during the first half of the trading action on Thursday. This, in turn, was seen as a key factor that provided a modest lift to the dollar-denominated commodity. Read more...

XAU/USD

Overview
Today last price 1747.52
Today Daily Change 9.72
Today Daily Change % 0.56
Today daily open 1737.8
 
Trends
Daily SMA20 1728.4
Daily SMA50 1764.06
Daily SMA100 1811.07
Daily SMA200 1858.97
 
Levels
Previous Daily High 1744.42
Previous Daily Low 1730.7
Previous Weekly High 1733.24
Previous Weekly Low 1677.98
Previous Monthly High 1759.98
Previous Monthly Low 1676.87
Daily Fibonacci 38.2% 1735.94
Daily Fibonacci 61.8% 1739.18
Daily Pivot Point S1 1730.86
Daily Pivot Point S2 1723.92
Daily Pivot Point S3 1717.14
Daily Pivot Point R1 1744.58
Daily Pivot Point R2 1751.36
Daily Pivot Point R3 1758.3

 

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