|

Gold Price News and Forecast: XAU/USD jumped to 1,765.00

XAU/USD outlook: Gold shines on global recovery concerns and rises to new nearly 8 years high

Spot gold was a top performer in early Monday’s trading, advancing slightly over 1% since Asian opening and hitting new highest since Oct 2012, following break of previous high at $1747 (14 Apr).

The yellow metal holds in green for the fifth straight day, extending last week’s 2.4% advance and shining on fading hopes for a speedy global recovery as recent weak data discourage markets.

Speculations about negative interest rates in the US and cheap money around the world further prompt traders into safety. Read more...

XAUUSD

XAU/USD Analysis: Jumped to 1,765.00

On Friday, the XAU/USD exchange rate exceeded the 1,740.00 level. During today's morning, the rate was trading at 1,765.00.

It is likely that yellow metal could face the resistance of the monthly R1 at 1,767.34. If the given level holds, it is likely that a reversal south could occur. In this case it is unlikely that the rate could decline below the 55-hour SMA near 1,737.00. Read more...

XAUUSD

Gold: A downtrend will start as soon as it drops below 1764,2

The uptrend may be expected to continue in case the market rises above resistance level 1775, which will be followed by reaching resistance level 11781.2.

An downtrend will start as soon, as the pair drops below support level 1764.2, which will be followed by moving down to support level 1753. Read more...

Gold

Author

More from FXStreet Team
Share:

Editor's Picks

EUR/USD flirts with three-day lows near 1.1570

EUR/USD resumes its march south on Thursday, revisting the 1.1570 region, or three-day lows, ahead of the opening bell in Asia. The intense sell-off in the pair comes in response to the solid performance of the US Dollar amid the still unresolved crisis in the Middle East. Moving forward, investors are expected to shift their focus to the release of the US NFP on Friday.
 

GBP/USD stays offered near 1.3340

GBP/USD fades Wednesday’s uptick and trades with decent losses in the 1.3340 zone in the latter part of Thursday’s session. Cable’s weakness, alongside the rest of the risk complex, follows the strong performance of the Greenback amid intense geopolitical jitters.

Gold: further weakness could challenge $5,000

Gold comes under fresh selling pressure on Thursday, slipping back below the $5,100 mark per troy ounce. Persistent strength in the US Dollar (USD) is preventing the yellow metal from building a meaningful recovery, even as markets remain risk-averse amid the deepening conflict in the Middle East.

XRP rises as crypto market steadies despite Middle East war

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.

Two PMIs, two Chinas

China’s economic data are often treated with a degree of caution by global investors. The challenge is not necessarily that the numbers are incorrect, but that they can describe very different parts of a vast and complex economy. Nowhere is that more evident than in China’s PMIs.

Ripple tests recovery strength amid steady ETF inflows, growing retail interest

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.