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...
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