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

FXStreet Team FXStreet

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.

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.

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

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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