Gold Price News and Forecast: XAU/USD extends the heaviest drop in three weeks below $1,800


Gold Price Analysis: XAU/USD charts minor recovery as the US bond yield drops

Gold is trading near $1,773 per ounce, having put in a low of $1,765 in early Asia. The minor bounce could be associated with the US 10-year Treasury yield's pullback from the 12-month high of 1.55% to 1.5%. 

Gold's 15-minute chart shows a bullish divergence of the Relative Strength Index. Meanwhile, long tail attached to the current and the previous 4-hour candle signals bear fatigue. 

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Gold Price Analysis: XAU/USD extends the heaviest drop in three weeks below $1,800

Gold prices drop to $1,767, down 0.13% intraday, during Friday’s Asian session. In doing so, the yellow metal tracks the corrective pullback in S&P 500 Futures after the Treasury yields roiled global markets the previous day.

Although the Federal Reserve policymakers signaled that they are neither concerned nor should be about the jump in the Treasury yields, the same triggered market havoc and propelled the US dollar index (DXY) on Thursday.

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XAG/USD

Overview
Today last price 27.42
Today Daily Change 0.06
Today Daily Change % 0.22
Today daily open 27.36
 
Trends
Daily SMA20 27.28
Daily SMA50 26.45
Daily SMA100 25.34
Daily SMA200 23.89
 
Levels
Previous Daily High 28.21
Previous Daily Low 27.35
Previous Weekly High 27.96
Previous Weekly Low 26.2
Previous Monthly High 27.92
Previous Monthly Low 24.19
Daily Fibonacci 38.2% 27.68
Daily Fibonacci 61.8% 27.88
Daily Pivot Point S1 27.07
Daily Pivot Point S2 26.78
Daily Pivot Point S3 26.21
Daily Pivot Point R1 27.93
Daily Pivot Point R2 28.5
Daily Pivot Point R3 28.78

 

 

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