Gold Price News and Forecast: XAU/USD demand trend Q1 2021 [Video]


Commodity supercycle gathers momentum – What’s next for prices [Video]

Commodity prices are booming across the board with everything from metals, energy to agriculture markets, trading near multi-year highs. Last week, Palladium, Iron Ore, and Lumber prices took center-stage skyrocketing to all-time record highs. Meanwhile, Copper and Aluminium prices hit 10-year highs. Both metals have now doubled from the lows seen a year ago. Read more...

 

Gold demand trend Q1 2021

According to a report from the World Gold Council (WGC), gold demand for Q1 2021 (excluding OTC) amounted to 815.7t, almost equivalent to Q4 2020, only down 23% compared to Q1 2020. Meanwhile, the average gold price in the first quarter was 13% higher y/y, but it fell 4% q/q. The low price relative to last year’s high has increased consumer demand as activity after the economic opening and the ongoing recovery lifted sentiment.

Jewellery demand was 477.4t, up 52% y/y. The value of jewellery spending – US $27.5 billion – was the highest for the first quarter since Q1 2013. Investment in bars and coins of 339.5t (+ 36% y/y) was supported by bargain-hunting, as well as expectations of building inflationary pressure. Consumer demand growth was offset by strong outflows from the gold-backed ETF (gold ETF), which lost 177.9 in Q1 as higher interest rates and the downward trend in prices weighed on investor sentiment. Read more...

Gold

Gold Price Analysis: XAU/USD climbs to fresh session tops, around $1,780 region

Gold built on its steady intraday ascent and climbed to fresh daily tops, around the $1,780 region during the early European session.

The precious metal caught some fresh bids on the first day of a new trading week and recovered further from two-week lows, around the $1,756 region touched last Thursday. This marked the first day of a positive move in the previous three trading sessions and was supported by a combination of factors. Read more...

XAU/USD

Overview
Today last price 1785.08
Today Daily Change 16.30
Today Daily Change % 0.92
Today daily open 1768.78
 
Trends
Daily SMA20 1762.34
Daily SMA50 1745.28
Daily SMA100 1799.81
Daily SMA200 1855.34
 
Levels
Previous Daily High 1773.72
Previous Daily Low 1764.3
Previous Weekly High 1790.03
Previous Weekly Low 1756.18
Previous Monthly High 1797.93
Previous Monthly Low 1705.84
Daily Fibonacci 38.2% 1767.9
Daily Fibonacci 61.8% 1770.12
Daily Pivot Point S1 1764.15
Daily Pivot Point S2 1759.51
Daily Pivot Point S3 1754.73
Daily Pivot Point R1 1773.57
Daily Pivot Point R2 1778.35
Daily Pivot Point R3 1782.99

 

 

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