Gold Price News and Forecast: XAU/USD mildly heavy above $1,700 amid less active markets in Asia

FXStreet Team FXStreet

Gold: Mildly heavy above $1,700 amid less active markets in Asia

Gold prices register 0.30% loss on a day while taking rounds to $1,723 as the markets in Tokyo open for trading on Monday. The bullion prices remain under pressure off-lat amid a lack of major catalysts.

The US coronavirus task force briefings have been canceled for Saturday and Sunday whereas the economic calendar in Asia also remains quiet. Recently, US President Donald Trump witnessed criticism for his suggestion to use disinfectant injections as a trial for the virus treatment. Even so, the Republican leader’s idea of opening up the economy sooner than later guards the risks.

XAU/USD

Overview
Today last price	1722.82
Today Daily Change	-5.82
Today Daily Change %	-0.34
Today daily open	1728.64

Trends
Daily SMA20	1669.97
Daily SMA50	1627.82
Daily SMA100	1581.03
Daily SMA200	1533.99

Levels
Previous Daily High	1736.52
Previous Daily Low	1710.68
Previous Weekly High	1739
Previous Weekly Low	1661.18
Previous Monthly High	1703.27
Previous Monthly Low	1451.3
Daily Fibonacci 38.2%	1720.55
Daily Fibonacci 61.8%	1726.65
Daily Pivot Point S1	1714.04
Daily Pivot Point S2	1699.44
Daily Pivot Point S3	1688.2
Daily Pivot Point R1	1739.88
Daily Pivot Point R2	1751.12
Daily Pivot Point R3	1765.72

Applied Elliott Wave Webinar: Crude, gold, SPX, Nifty 50, Reliance [Video]

In this webinar I have discussed practical application of Elliott Wave using various chart including Crude Oil, Gold, SPX, Nifty 50, Reliance (NSE Stock). Possible trading strategies using Elliott Wave for April and May 2020 have also been discussed wherever applicable.

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 retreats toward 1.1700 on modest USD recovery

EUR/USD stays under mild bearish pressure and trades below 1.1750 on Friday. Although trading conditions remain thin following the New Year holiday and ahead of the weekend, the modest recovery seen in the US Dollar causes the pair to edge lower. The economic calendar will not feature any high-impact data releases.

GBP/USD struggles to gain traction, stabilizes near 1.3450

After testing 1.3400 on the last day of 2025, GBP/USD managed to stage a rebound. Nevertheless, the pair finds it difficult to gather momentum and trades marginally lower on the day at around 1.3450 as market participants remain in holiday mood.

Gold climbs toward $4,400 following deep correction

Gold advances toward $4,400 and gains more than 1.5% on the day after suffering heavy losses amid profit-taking heading into the end of the year. Growing expectations for a dovish Fed policy and persistent geopolitical risks seem to be helping XAU/USD stretch higher.

Cardano gains early New Year momentum, bulls target falling wedge breakout

Cardano kicks off the New Year on a positive note and is extending gains, trading above $0.36 at the time of writing on Friday. Improving on-chain and derivatives data point to growing bullish interest, while the technical outlook keeps an upside breakout in focus.

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.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is. Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).