Gold Price News and Forecast: XAU/USD rises to four-month highs on US-Iran confrontation in Iraq


Gold nears three-month top amid fresh trade/geopolitical concerns, USD recovery

Gold prices take the bids around $1,529 during Friday’s Asian session. The yellow metal surged to the highest since late-September the previous day. In doing so, it ignored the US dollar (USD) recovery and nearness to the US-China phase-one deal.

Although the US and China are near to signing the phase-one deal on January 15, doubts over the phase-two talks crossed wires via The Hill.  

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Gold rises to four-month highs on US-Iran confrontation in Iraq

Gold, a classic haven asset, has jumped to four-month highs with the US and Iran moving closer to open confrontation in Iraq. 

The yellow metal is currently trading at $1,539 per Oz, the highest level since Sept. 5, representing a 0.63% gain on the day. The US launched an airstrike on Baghdad airport on Friday, killing Iran's most celebrated military official Qassem Soleimani. 

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XAU/USD

Overview
Today last price 1539
Today Daily Change 10.71
Today Daily Change % 0.70
Today daily open 1528.29
 
Trends
Daily SMA20 1488.69
Daily SMA50 1480.73
Daily SMA100 1492.96
Daily SMA200 1422.92
 
Levels
Previous Daily High 1531.31
Previous Daily Low 1517.24
Previous Weekly High 1517.4
Previous Weekly Low 1477.55
Previous Monthly High 1525.1
Previous Monthly Low 1454.05
Daily Fibonacci 38.2% 1525.94
Daily Fibonacci 61.8% 1522.61
Daily Pivot Point S1 1519.92
Daily Pivot Point S2 1511.54
Daily Pivot Point S3 1505.85
Daily Pivot Point R1 1533.99
Daily Pivot Point R2 1539.68
Daily Pivot Point R3 1548.06

 

 

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