Gold Price News and Forecast: XAU/USD fades recovery moves from $1,858.43


Gold Price Analysis: XAU/USD bulls catch a breather above $1,850 amid virus woes

Following its failure to please the bulls, Gold eases to $1,869.70 during the initial Asian session on Friday. The yellow metal refreshed two-week top the previous day on stimulus hopes but the coronavirus (COVID-19) and downbeat data from the US, not to forget upbeat ECB, probes the bulls afterward.

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XAG/USD

Overview
Today last price 25.77
Today Daily Change -0.21
Today Daily Change % -0.81
Today daily open 25.98
 
Trends
Daily SMA20 26.01
Daily SMA50 25.02
Daily SMA100 24.88
Daily SMA200 22.47
 
Levels
Previous Daily High 26.05
Previous Daily Low 25.64
Previous Weekly High 25.89
Previous Weekly Low 24.34
Previous Monthly High 27.41
Previous Monthly Low 22.59
Daily Fibonacci 38.2% 25.89
Daily Fibonacci 61.8% 25.8
Daily Pivot Point S1 25.73
Daily Pivot Point S2 25.48
Daily Pivot Point S3 25.32
Daily Pivot Point R1 26.14
Daily Pivot Point R2 26.3
Daily Pivot Point R3 26.54

 

Gold Price Analysis: XAU/USD edges back from two-week highs but 50DMA acts as support

Spot gold prices have dropped back from fresh near-two week highs set at $1875 during the early European session, though have found support in the $1860s above the 50-day moving average which currently resides at $1860. At present, XAU/USD trades around 0.4% or just under $7 lower on the day.

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