Gold Price News and Forecast: XAU/USD loses bullish momentum ahead of next week's key events

FXStreet Team FXStreet

Gold Price Analysis: XAU/USD stays pressured below $1,850 amid risk-on mood

Gold drops to $1,837.50, down 0.12% intraday, during Monday’s Asian trading. In doing so, the yellow metal keeps the downside momentum portrayed at the week’s start while following the risk-positive headlines. However, bears are also cautious amid the coronavirus (COVID-19) woes and a lack of clarity over the key issues.

XAU/USD

Overview
Today last price	1835.93
Today Daily Change	-3.41
Today Daily Change %	-0.19
Today daily open	1839.34

Trends
Daily SMA20	1838.62
Daily SMA50	1874.97
Daily SMA100	1910.26
Daily SMA200	1809.34

Levels
Previous Daily High	1847.78
Previous Daily Low	1824.16
Previous Weekly High	1875.34
Previous Weekly Low	1822.22
Previous Monthly High	1965.58
Previous Monthly Low	1764.6
Daily Fibonacci 38.2%	1838.76
Daily Fibonacci 61.8%	1833.18
Daily Pivot Point S1	1826.41
Daily Pivot Point S2	1813.47
Daily Pivot Point S3	1802.79
Daily Pivot Point R1	1850.03
Daily Pivot Point R2	1860.71
Daily Pivot Point R3	1873.65

Gold Weekly Forecast: XAU/USD loses bullish momentum ahead of next week's key events

The XAU/USD pair built on previous week’s gains and touched its highest level in two weeks at $1,875.79 on Tuesday. In addition to the technical buying pressure that gathered momentum after the pair closed above the 20- day SMA back in early December, the USD’s poor performance fueled the rally. However, XAU/USD lost its traction in the second half of the week and erased the majority of its weekly gains before settling below $1,850.

Read more ...

Author

FXStreet Team

FXStreet

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD moves sideways below 1.1800 on Christmas Eve

EUR/USD struggles to find direction and trades in a narrow channel below 1.1800 after posting gains for two consecutive days. Bond and stock markets in the US will open at the usual time and close early on Christmas Eve, allowing the trading action to remain subdued.

GBP/USD keeps range around 1.3500 amid quiet markets

GBP/USD keeps its range trade intact at around 1.3500 on Wednesday. The Pound Sterling holds the upper hand over the US Dollar amid pre-Christmas light trading as traders move to the sidelines heading into the holiday season.

Gold retreats from record highs, trades below $4,500

Gold retreats after setting a new record-high above $4,520 earlier in the day and trades in a tight range below $4,500 as trading volumes thin out ahead of the Christmas break. The US Dollar selling bias remains unabated on the back of dovish Fed expectations, which continues to act as a tailwind for the bullion amid persistent geopolitical risks.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.