Gold Price News and Forecast: XAU/USD remains trapped between 50 and 200-DMA ahead of US data


Gold is trapped in a range but bears are still in control

Gold is trapped in a range and bears are controlling it. However bulls might still get their chance.

The 1818-30 zone is good for buyers. We can see the lack of sellers there and at this point this is the only zone where buyers might expect the price to go up. Everything else is bearish. 1860-1880 is where sellers are and there is possibility of new selling towards lower levels. Below 1818, breakout towards 1808 should happen and above 1860, 1880 is the resistance. Watch for rejections in those zones. Read more...

XAUUSD

Gold Price Analysis: XAU/USD remains trapped between 50 and 200-DMA ahead of US data

Gold (XAU/USD) trades on the front foot this Friday amid dovish comments from the Fed Chief Powell.

However, gold's further upside remains elusive, as the safe-haven demand for the US dollar is on the rise, with markets uncertain about the details of President-elect Joe Biden's $1.9 stimulus package unveiled earlier in the Asian session.

Investors also turn cautious ahead of the critical US Retail Sales, especially after Thursday's disappointing weekly Jobless Claims. Read more...

XAUUSD

Gold Futures: Further consolidation likely

Traders increased their open interest positions by nearly 2K contracts on Thursday according to preliminary data from CME Group. In the same line, volume rose for the second session in a row, this time by around 37.1K contracts.

Gold looks side-lined below $1,900/oz

Gold prices charted an inconclusive session on Thursday amidst rising open interest and volume, exposing further consolidation at least in the very near-term. That said, the next hurdle of note remains at the $1,900 per ounce for the time being. Read more...

Gold

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: ECB and US Treasury yields to make it or break it

The EUR/USD pair fell to a fresh 2021 low at 1.1892 this week, ending with a handful of pips above this level. The dollar soared across the board following comments from the head of US Federal Reserve Jerome Powell.

EUR/USD News

GBP/USD: Dollar bulls taking over

The British Pound was among the best performers against the greenback, surging above the 1.4000 level for the first time this week. Soaring US Treasury yields after Powell’s speech sent the dollar skyrocketing. GBP/USD struggling around 1.3900 and at risk of falling further.

GBP/USD News

Gold still eyes June 2020 lows at $1670 after weekly closing below $1700

Weekly closing below $1700 keeps the XAU/USD sellers hopeful. A bounce towards 50-SMA on 4H cannot be ruled out in the near-term. RSI stays bearish while gold holds within a potential falling wedge.

Gold News

Ethereum price primed for a swift recovery as the network prepares for a major update in July

Ethereum price aims for a significant recovery towards $2,000. A major upgrade scheduled for July intends to fix the problem with gas fees on Ethereum. ETH miners are not happy with the decision.

Read more

US Dollar Index pushes higher to 92.20 on stellar Payrolls

The march north in the greenback remains unabated and trade in fresh 2021 highs beyond the 92.00 hurdle when tracked by the US Dollar Index (DXY).

US Dollar Index News

Forex MAJORS

Cryptocurrencies

Signatures