Gold Price News and Forecast: XAU/USD is trending up

FXStreet Team FXStreet

Gold Price Analysis: XAU/USD portrays indecision around mid-$1,800s despite risk-on mood

Gold prices seesaw between $1,854-57, currently around $1,855.60, amid the initial Asian session on Wednesday. The yellow metal rose for the first time in the last five days on Tuesday amid the US dollar weakness and risk-on mood. However, a lack of major catalysts during early Asia probe the commodity buyers off-late.

The US Centers for Disease Control and Prevention (CDC) recently announced compulsory coronavirus (COVID-19) testing as well as the negative result for all fliers into the US from January 26.

XAG/USD

Overview
Today last price	25.68
Today Daily Change	0.14
Today Daily Change %	0.55
Today daily open	25.54

Trends
Daily SMA20	26.14
Daily SMA50	24.91
Daily SMA100	25.03
Daily SMA200	22.13

Levels
Previous Daily High	25.64
Previous Daily Low	24.9
Previous Weekly High	27.92
Previous Weekly Low	24.47
Previous Monthly High	27.41
Previous Monthly Low	22.59
Daily Fibonacci 38.2%	25.36
Daily Fibonacci 61.8%	25.18
Daily Pivot Point S1	25.08
Daily Pivot Point S2	24.62
Daily Pivot Point S3	24.34
Daily Pivot Point R1	25.82
Daily Pivot Point R2	26.1
Daily Pivot Point R3	26.55

XAU/USD: Gold/USD is trending up after the sell-off but needs to break and hold above 1855.00

I indicated the probability of prices bouncing at 1908.00 and heading up to test previous highs in my last post. However, prices failed, and we saw a sell-off as indicated on the chart below.

Prices now seem to have settled and starting to trend up again. The critical levels to watch are around 1840.00 and 1825.00 support, and resistance at 1855.00.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.