Gold Price News and Forecast: XAU/USD eyes monthly top near $1,907 as Trump signs covid aid package


Gold Price Analysis: XAU/USD nears $1,900 hurdle as President Trump signs coronavirus stimulus bill

Gold, widely touted as a hedge against inflation and currency devaluation, is cheering the US President Trump's decision to sign the critical coronavirus relief and spending package. 

The package includes direct payments to qualifying Americans worth up to $600 per adult and child, a boost in weekly unemployment benefits, and funds for small-business aid and vaccine distribution, according to nrp.org.

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XAU/USD

Overview
Today last price 1894.8
Today Daily Change 15.42
Today Daily Change % 0.82
Today daily open 1879.38
 
Trends
Daily SMA20 1851.38
Daily SMA50 1868.04
Daily SMA100 1897.69
Daily SMA200 1824.01
 
Levels
Previous Daily High 1879.38
Previous Daily Low 1879.38
Previous Weekly High 1906.87
Previous Weekly Low 1855.28
Previous Monthly High 1965.58
Previous Monthly Low 1764.6
Daily Fibonacci 38.2% 1879.38
Daily Fibonacci 61.8% 1879.38
Daily Pivot Point S1 1879.38
Daily Pivot Point S2 1879.38
Daily Pivot Point S3 1879.38
Daily Pivot Point R1 1879.38
Daily Pivot Point R2 1879.38
Daily Pivot Point R3 1879.38

 

Gold Price Analysis: XAU/USD eyes monthly top near $1,907 as Trump signs covid aid package – Confluence Detector

Gold prices stay positive near a one-week high, currently up 0.80% while easing from the intraday high of $1,900.35 to $1,895, during early Monday. In doing so, the yellow metal extends the last Wednesday’s recovery moves from $1,859 toward the monthly top as the market’s sentiment improve on US President Donald Trump’s signing of the coronavirus (COVID-19) aid package.
 
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