Gold Price News and Forecast: XAU/USD refreshes four-month low below $1,830 on market optimism

Gold Price Analysis: XAU/USD eyes 200-day SMA

Having found acceptance under long-held support, gold now risks falling to the 200-day Simple Moving Average (SMA). The yellow metal closed below $1,850 on Monday, violating the level, which acted as a strong floor multiple times since September. 

The breakdown is backed by a below-50 or bearish reading on the 14-day Relative Strength Index (RSI) and a negative MACD histogram. The 5- and 10-day SMAs are trending south, indicating a bearish setup, and so is the bearish crossover of the 50- and 100-day SMAs. 

Read more ...

Gold Price Analysis: XAU/USD refreshes four-month low below $1,830 on market optimism

Gold drops to the fresh multi-month low of $1,826.53, down 0.35% intraday, during early Tuesday. The yellow metal recently took offers as US President Donald Trump flashed signs to formally shift powers to Joe Biden. Also favoring the risks could be the chatters concerning Biden’s team and the coronavirus (COVID-19) vaccines.

Although hesitantly, Trump ordered General Services Administration (GSA) to begin the process of opening the White House gates for the recently elected President Biden. This helps the Democrats to escalate the talks surrounding the COVID-19 aid package while also rushing the moves to prepare a sound team to battle the covid woes.

Read more ...


Today last price 23.42
Today Daily Change -0.16
Today Daily Change % -0.68
Today daily open 23.58
Daily SMA20 24.23
Daily SMA50 24.38
Daily SMA100 24.58
Daily SMA200 20.44
Previous Daily High 24.4
Previous Daily Low 23.42
Previous Weekly High 25.08
Previous Weekly Low 23.64
Previous Monthly High 25.56
Previous Monthly Low 22.59
Daily Fibonacci 38.2% 23.8
Daily Fibonacci 61.8% 24.03
Daily Pivot Point S1 23.2
Daily Pivot Point S2 22.83
Daily Pivot Point S3 22.23
Daily Pivot Point R1 24.18
Daily Pivot Point R2 24.78
Daily Pivot Point R3 25.15



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD: Bears hold the grip, critical challenge at 1.2000

The greenback firmed up at the end of the week, closing it with substantial gains against most major rivals. Renewed coronavirus concerns and poor macroeconomic data spurred risk-off. EUR/USD is firmly bearish.


GBP/USD: Further restrictions in the UK may hit the pound

The GBP/USD pair trimmed most of its weekly gains on Friday and settled in the 1.3580 price zone, amid risk-off fueling dollar’s demand. UK GDP contracted by less than anticipated in November, Industrial Production plunged.


Gold: Further decline toward $1,800 remains on the cards

Gold failed to stage a convincing rebound this week. After losing more than 2% in the previous week, the XAU/USD pair extended its slide on Monday and touched its lowest level since early December at $1,817. 

Gold news

Darkest fefore dawn

The upcoming economic news is likely to be dreadful, and if it is not dreadful, it will be mostly ignored. This includes the release of the preliminary January PMI figures at the end of the week. Japan is extending its national emergency to another five prefectures, which collectively account for over half of the nation's GDP.

Read more

DXY breaks above key downtrend, eyes move above 91.00

USD has been strongly supported on what has shaped up to be a very much risk off final trading day of the week. Most G10/USD pairs have seen significant weakness, aside from CHF/USD and JPY/USD, given that the two currencies are also considered “safe havens”.

US Dollar Index News