Gold Price News and Forecast: XAU/USD further upside appears contained

FXStreet Team FXStreet

Gold Price Analysis: Range play likely for XAU/USD amid US-China talks, levels to watch –" Confluence Detector

Gold (XAU/USD) is on the defensive, treading water amid the recent surge in the US Treasury yields that lifted the dollar alongside. Thursday’s sudden rally in the rates countered the dovish Fed expectations, as investors bet on faster economic recovery and higher inflation. The BOE also echoed the Fed’s stance on monetary policy.

However, the downside in gold remains cushioned by the renewed jitters around the US-China talks and the slump in the global equities amid inflation fears. In the day ahead, the dynamics in the bond markets and US-China talks will continue to influence sentiment around the yellow metal, as the US docket remains data-dry. Read more...

Gold Futures: Further upside appears contained

Open interest in Gold futures markets shrunk by around 3.1K contracts on Thursday, reversing three consecutive daily builds according to flash data from CME Group. Volume, instead, rose for the third session in a row, this time by around 34.3K contracts.

Gold prices charted an inconclusive day on Thursday after hitting weekly tops in the $1,760 area per ounce troy. The move was accompanied by shrinking open interest and rising volume, exposing further consolidation in the very near-term. Read more...

Gold Price Analysis: XAU/USD at risk as Fed announces no SLR exemption

Having struggled to hold above their 21-day moving average, which currently resides at $1741, spot gold prices (XAU/USD) have slipped back from European morning session highs and, as US trade gets underway, are trading flat on the session in the mid-$1730s, pretty much bang in the middle of this week’s $1720-$1755ish price range.

During Asia Pacific and early European session trading hours, precious metals markets had been deriving modest support from a gradual retracement lower in US government bond yields, which had (for example) seen the US 10-year drop back below the 1.70% level. at the end of the month. Read more...

XAU/USD

Overview
Today last price	1736.14
Today Daily Change	-0.73
Today Daily Change %	-0.04
Today daily open	1736.87

Trends
Daily SMA20	1738.81
Daily SMA50	1796.04
Daily SMA100	1832.8
Daily SMA200	1860.47

Levels
Previous Daily High	1755.59
Previous Daily Low	1719.3
Previous Weekly High	1739.93
Previous Weekly Low	1676.87
Previous Monthly High	1871.9
Previous Monthly Low	1717.24
Daily Fibonacci 38.2%	1733.16
Daily Fibonacci 61.8%	1741.73
Daily Pivot Point S1	1718.92
Daily Pivot Point S2	1700.96
Daily Pivot Point S3	1682.63
Daily Pivot Point R1	1755.21
Daily Pivot Point R2	1773.54
Daily Pivot Point R3	1791.5

Author

FXStreet Team

FXStreet

EUR/USD loses further momentum, revisits 1.1930

EUR/USD surrenders further ground and approaches the 1.1930 region, or daily troughs, on Wednesday. The pair has retreated from a five-year high as US Dollar demand picks up again, with traders turning cautious ahead of the key Fed meeting later in the European evening.

GBP/USD remains offered, focus is on 1.3750

GBP/USD is clocking marked losses near the 1.3750 zone midweek. Cable’s pullback comes as the Greenback stages a robust bounce, with traders taking profits and squaring positions ahead of the Fed’s key policy announcements later in the day.

Gold slips back below $5,300 on USD rebound

Gold now gives away part of the earlier bull run to all-time highs past the $5,300 mark per troy ounce on Wednesday. Investors continued to seek out traditional safe havens amid persistent economic and geopolitical uncertainty, with markets also staying cautious ahead of the FOMC event later in the day.