Gold Price News and Forecast: XAU/USD off lows, still in the red below $1880 level

FXStreet Team FXStreet

Gold is poised to go higher

GOLD is in uptrend and I expect continuation of the bullish move. We can see the rounded bottom as an additional cue.

The POC zone should spike the price up. Continuation above W L3 camarilla should happen today. 1875 zone is where the buyers are.Targets are 1890 and 1902. The final target is 1916. Only the move below 1850 could change the trend. At this point buying the dips is the option and gold is poised to go higher. Read more...

Gold Price Analysis: XAU/USD off lows, still in the red below $1880 level

Gold refreshed daily lows, around $1869 region during the mid-European session, albeit quickly recovered a bit thereafter. The commodity was last seen trading just above the $1875 region, down around 0.20% for the day.

The precious metal failed to capitalize on its intraday positive move, instead faced rejection near the $1900 mark amid the prevalent upbeat market mood. The global risk sentiment remained well supported by the latest optimism about a last-minute Brexit deal and relief over a long-awaited US economic stimulus. Read more...

Gold Price Analysis: XAU/USD falters near $1900 mark, up little around $1885 region

Gold refreshed daily lows during the early European session, albeit quickly recovered thereafter. The commodity was last seen trading with modest daily gains, just below the $1885 level.

The selling bias surrounding the US dollar picked up the pace on the first day of a new trading week after the US President Donald Trump signed a $2.3 trillion COVID-19 relief and government funding bill. This was seen as one of the key factors that provided a modest lift to the dollar-denominated commodity and pushed spot prices to four-day tops. Read more...

XAU/USD

Overview
Today last price	1885.6
Today Daily Change	6.22
Today Daily Change %	0.33
Today daily open	1879.38

Trends
Daily SMA20	1851.38
Daily SMA50	1868.04
Daily SMA100	1897.69
Daily SMA200	1824.01

Levels
Previous Daily High	1879.38
Previous Daily Low	1879.38
Previous Weekly High	1906.87
Previous Weekly Low	1855.28
Previous Monthly High	1965.58
Previous Monthly Low	1764.6
Daily Fibonacci 38.2%	1879.38
Daily Fibonacci 61.8%	1879.38
Daily Pivot Point S1	1879.38
Daily Pivot Point S2	1879.38
Daily Pivot Point S3	1879.38
Daily Pivot Point R1	1879.38
Daily Pivot Point R2	1879.38
Daily Pivot Point R3	1879.38

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 struggles for direction amid USD gains

EUR/USD is trimming part of its earlier gains, coming under some mild downside pressure near 1.1730 as the US Dollar edges higher. Markets are still digesting the Fed’s latest rate decision, while also looking ahead to more commentary from Fed officials in the sessions ahead.

GBP/USD drops to daily lows near 1.3360

Disappointing UK data weighed on the Sterling towards the end of the week, triggering a pullback in GBP/USD to fresh daily lows near 1.3360. Looking ahead, the next key event across the Channel is the BoE meeting on December 18.

Gold poised to challenge record highs

Gold prices added roughly 3% in the week, flirting with the $4,350 mark on Friday, to finally settle at around $4,330. Despite its safe-haven condition, the bright metal rallied in a risk-on scenario, amid broad US Dollar weakness.

Week ahead: US NFP and CPI, BoE, ECB and BoJ mark a busy week

After Fed decision, dollar traders lock gaze on NFP and CPI data. Will the BoE deliver a dovish interest rate cut? ECB expected to reiterate “good place” mantra. Will a BoJ rate hike help the yen recover some of its massive losses?

Big week ends with big doubts

The S&P 500 continued to push higher yesterday as the US 2-year yield wavered around the 3.50% mark following a Federal Reserve (Fed) rate cut earlier this week that was ultimately perceived as not that hawkish after all. The cut is especially boosting the non-tech pockets of the market.

Aave Price Forecast: AAVE primed for breakout as bullish signals strengthen

Aave (AAVE) price is trading above $204 at the time of writing on Friday and approaching the upper boundary of its descending parallel channel; a breakout from this structure would favor the bulls.