Gold Price News and Forecast: XAU/USD remains below 1,745.00

FXStreet Team FXStreet

Gold going sideways after last week’s advance

The gold futures contract lost 0.08% on Monday, as it fluctuated following Friday's advance of 1.35%. Early last week it has been extending a consolidation after bouncing off $1,700 support level on Wednesday. Gold price is still trading within its medium-term consolidation, as we can see on the daily chart:

Gold is unchanged this morning, as it is still trading along $1,750 price level. Financial markets remain in risk-on mode, as stocks continue to hover along their medium-term highs. What about the other precious metals?: Silver gained 1.77% on Monday and today it is 0.4% lower. Platinum gained 3.03% and today is trading 0.4% lower. Palladium gained 0.79% yesterday and today it is 1.2% higher. So precious metals are mixed this morning. Read more...

XAU/USD analysis: Remains below 1,745.00

On Monday, the XAU/USD exchange rate consolidated in the 1,740.00 area. During today's morning, the rate maintained its consolidation.

Given that yellow metal is supported by the 55-, 100– and 200-hour moving averages in the 1,725.00/1,735.00 range, it is likely that some upside potential could prevail. Read more...

Gold flat-lined below $1740 level, bulls await fresh catalyst

Gold reversed an early dip to the $1735 region and has now moved back closer to over one-week tops set in the previous session.

The global risk sentiment remained well support by growing optimism over the global economic recovery. The same was evident from a positive trading sentiment around the equity markets, which exerted some pressure on the precious metal's safe-haven status. Read more...

XAU/USD

Overview
Today last price	1744.26
Today Daily Change	4.80
Today Daily Change %	0.28
Today daily open	1739.46

Trends
Daily SMA20	1721.18
Daily SMA50	1689.54
Daily SMA100	1636.2
Daily SMA200	1566.15

Levels
Previous Daily High	1744.65
Previous Daily Low	1727.32
Previous Weekly High	1737.78
Previous Weekly Low	1693.78
Previous Monthly High	1765.38
Previous Monthly Low	1670.72
Daily Fibonacci 38.2%	1738.03
Daily Fibonacci 61.8%	1733.94
Daily Pivot Point S1	1729.64
Daily Pivot Point S2	1719.81
Daily Pivot Point S3	1712.31
Daily Pivot Point R1	1746.97
Daily Pivot Point R2	1754.47
Daily Pivot Point R3	1764.3

Author

FXStreet Team

FXStreet

EUR/USD retreats toward 1.1600 after upbeat US data

EUR/USD pulls away from session highs and declines toward 1.1600 in the American session on Wednesday. Upbeat private sector employment and ISM Services PMI data from the US help the US Dollar (USD) stay resilient against its rivals, limiting the pair's upside.

GBP/USD meets resistance around 1.3400

In line with its risk-linked peers, GBP/USD stages a modest comeback on Wednesday, although meeting some resistance around the 1.3400 neighbourhood. Cable’s humble recovery struggles to gather momentum as the Greenback benefits from better-than-forecast macroeconomic data releases.

Gold loses traction after testing $5,200

Gold corrects lower after testing $5,200 but manages to stay in positive territory in the second hald of the day on Wednesday. The precious metal remains well supported by the deterioration of the geopolitical scenario in the Middle East, while the US Dollar's resilience caps the upside.