Gold Price News and Forecast: XAU/USD remains below 1,875.00

FXStreet Team FXStreet

Gold Price Analysis: XAU/USD eyes 100-HMA support ahead of US PMIs, Biden

Gold (XAU/USD) is licking its wounds above $1860, although remains exposed to downside risks amid a broadly stronger US dollar and mixed technical view.

The US dollar remains on the bid, drawing haven demand amid potential risks to US President Joe Biden's $1.9 trillion stimulus proposal and mounting coronavirus concerns globally. Read more...

XAU/USD analysis: Remains below 1,875.00

As apparent on the chart, the XAU/USD exchange rate failed to surpass the 1,875.00 level.

It is likely gold could gain support from the 100– and 200-hour moving averages near 1,850.00 and trade upwards in the short term. In this case the price for gold could target the psychological level at 1,890.00. Read more...

Gold: Rising inflation to keep real interest rates low, a key support for XAU/USD – ANZ

Although economic growth and rising yields have weighed on the gold price, economists at ANZ Bank see the backdrop as supportive as rising inflation keeps the real interest rate lower.

On Friday, gold (XAU/USD) is consolidating within Thursday's trading range above $1850, as investors await President Joe Biden's speech for the next direction. Read more...

XAU/USD

Overview
Today last price	1838.93
Today Daily Change	-30.19
Today Daily Change %	-1.62
Today daily open	1869.12

Trends
Daily SMA20	1876.86
Daily SMA50	1860
Daily SMA100	1883.53
Daily SMA200	1846.86

Levels
Previous Daily High	1875.2
Previous Daily Low	1858.43
Previous Weekly High	1863.83
Previous Weekly Low	1816.96
Previous Monthly High	1906.87
Previous Monthly Low	1775.52
Daily Fibonacci 38.2%	1864.84
Daily Fibonacci 61.8%	1868.79
Daily Pivot Point S1	1859.97
Daily Pivot Point S2	1850.81
Daily Pivot Point S3	1843.2
Daily Pivot Point R1	1876.74
Daily Pivot Point R2	1884.35
Daily Pivot Point R3	1893.51

Author

FXStreet Team

FXStreet

EUR/USD struggles to regain momentum in the low1.1600s

EUR/USD is giving some signs of life in the aftermath of two severe days of losses on Wednesday, reclaiming the 1.1600 hurdle and above on the back of the resurgence of a mild selling bias around the US Dollar. Moving forward, the usual US weekly Claims will take centre stage on Thursday ahead of Friday’s crucial NFP data.

GBP/USD appears bid around 1.3370

GBP/USD reverses part of its recent multi-day decline, gathering some balance and managing to reach the 1.3400 region, where some initial resistance seems to have turned up. Cable’s uptick comes in response to some loss of momentum in the Greenback despite the geopolitical scenario remaining fragile.

Gold recovers modestly despite intensifying Middle East crisis

Gold keeps its daily gains well in place, although a break above the $5,200 mark per troy ounce still remains elusive on Wednesday. The yellow metal’s rebound comes in response to the persistent flight-to-safety amid intense geopolitical tensions in the Middle East and the bearish performance of the US Dollar.