Gold Price News and Forecast: XAU/USD consolidates rebound above $1800 as US dollar remains under pressure

Gold Price Analysis: XAU/USD consolidates close to Tuesday highs around $1815

Spot gold (XAU/USD) prices saw significant upside on Tuesday, rallying more than 2% from roughly $1780 to current levels around $1815. The US 10-year inflation breakeven rose above 1.8% on Tuesday (an indication that markets expect inflation to average 1.8% over the next 10 years), its highest level since May 2019. Meanwhile, PMI reports from around the world on Tuesday also pointed to the likelihood of rising inflation;

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Gold Price Analysis: XAU/USD consolidates rebound above $1800 as US dollar remains under pressure

Gold is holding onto important daily gains as it hovers around $1810, up by more than $30 from Monday’s close. It is having the best day in weeks. The price of the metal jumped during the European session and peaked at $1814 before retreating to $1804. The rebound was driven by a correction, some profit-taking and a weaker US Dollar.

The positive momentum in gold eased despite the sharp decline of the US dollar and risk appetite on the back of higher US yields. The 10-year jumped to 0.925%, the highest level since mid-November.

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Today last price 1813.1
Today Daily Change -1.41
Today Daily Change % -0.08
Today daily open 1814.51
Daily SMA20 1859.5
Daily SMA50 1881.1
Daily SMA100 1910.09
Daily SMA200 1800.64
Previous Daily High 1817.37
Previous Daily Low 1775.52
Previous Weekly High 1876.14
Previous Weekly Low 1774.4
Previous Monthly High 1965.58
Previous Monthly Low 1764.6
Daily Fibonacci 38.2% 1801.38
Daily Fibonacci 61.8% 1791.51
Daily Pivot Point S1 1787.56
Daily Pivot Point S2 1760.62
Daily Pivot Point S3 1745.71
Daily Pivot Point R1 1829.41
Daily Pivot Point R2 1844.32
Daily Pivot Point R3 1871.26



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