Gold Price News and Forecast: XAU/USD remains well supported above the 1560.00 mark


Gold Price Analysis: XAU/USD bulls eyeing $1570.00/oz and above

Gold daily chart

Gold is trading in a bull trend above the main daily simple moving averages (SMAs). The market is evolving in a rising channel while the price appears to be supported above the 1560.00 figure.

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Gold Daily News - Gold is lower as risk-on assets are gaining

The gold futures contract lost 0.60% on Tuesday, as it retraced some of its week-long advance from last Wednesday’s local low of $1,551.10. Investors reacted to the Fed’ Jerome Powell’s Testimony yesterday.The market continues to trade within a month-long consolidation following January 8 run-up to new medium-term high of $1,613.30.

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XAU/USD

Overview
Today last price 1567.14
Today Daily Change -1.50
Today Daily Change % -0.10
Today daily open 1568.64
 
Trends
Daily SMA20 1567.01
Daily SMA50 1530.38
Daily SMA100 1507
Daily SMA200 1462.01
 
Levels
Previous Daily High 1574.12
Previous Daily Low 1562.11
Previous Weekly High 1594.01
Previous Weekly Low 1547.56
Previous Monthly High 1611.53
Previous Monthly Low 1517.1
Daily Fibonacci 38.2% 1566.7
Daily Fibonacci 61.8% 1569.53
Daily Pivot Point S1 1562.46
Daily Pivot Point S2 1556.28
Daily Pivot Point S3 1550.45
Daily Pivot Point R1 1574.47
Daily Pivot Point R2 1580.3
Daily Pivot Point R3 1586.48

 

 

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