Gold Price News and Forecast: XAU/USD has room for extra gains

FXStreet Team FXStreet

Gold Price Analysis: XAU/USD remains poised to test $1850 amid weaker USD, golden cross

Gold (XAU/USD) gains further ground heading into the European open, sitting at the highest levels in a week at $1837.

The bulls continue to cheer the renewal of the US fiscal stimulus talks, with a much larger than the previously proposed aid package likely on the table for Congress. Read more...

Gold Futures: Room for extra gains

According to flash data for gold futures markets from CME Group, open interest rose by more than 5K contracts on Wednesday after two consecutive daily drops. On the other hand, volume extended the downtrend and shrunk by around 15.6K contracts.

Gold now looks to $1,850/oz

Prices of the ounce troy of gold edged higher on Wednesday, extending the bounce off monthly lows near $1,760 (November 30) amidst increasing open interest. That said, the yellow metal now targets the mid-$1,800s, or September's lows. This area is reinforced by the proximity of the 21-day SMA ($1,854). Read more...

Gold Price Analysis: XAU/USD climbs to multi-day tops, just above $1840 level

Gold edged higher through the early European session and climbed to eight-day tops, around the $1845 region in the last hour.

The precious metal built on this week's goodish rebound from the $1764 region – the lowest level since early July – and continued scaling higher for the third consecutive session on Thursday. The uptick was exclusively sponsored by the prevalent selling bias surrounding the US dollar, which tends to benefit dollar-denominated commodities, including gold. Read more...

XAU/USD

Overview
Today last price	1838.43
Today Daily Change	10.03
Today Daily Change %	0.55
Today daily open	1828.4

Trends
Daily SMA20	1855.68
Daily SMA50	1880.4
Daily SMA100	1910.27
Daily SMA200	1801.63

Levels
Previous Daily High	1832.52
Previous Daily Low	1807.55
Previous Weekly High	1876.14
Previous Weekly Low	1774.4
Previous Monthly High	1965.58
Previous Monthly Low	1764.6
Daily Fibonacci 38.2%	1822.98
Daily Fibonacci 61.8%	1817.09
Daily Pivot Point S1	1813.13
Daily Pivot Point S2	1797.85
Daily Pivot Point S3	1788.16
Daily Pivot Point R1	1838.1
Daily Pivot Point R2	1847.79
Daily Pivot Point R3	1863.07

Author

FXStreet Team

FXStreet

EUR/USD retreats toward 1.1600 after upbeat US data

EUR/USD pulls away from session highs and declines toward 1.1600 in the American session on Wednesday. Upbeat private sector employment and ISM Services PMI data from the US help the US Dollar (USD) stay resilient against its rivals, limiting the pair's upside.

GBP/USD meets resistance around 1.3400

In line with its risk-linked peers, GBP/USD stages a modest comeback on Wednesday, although meeting some resistance around the 1.3400 neighbourhood. Cable’s humble recovery struggles to gather momentum as the Greenback benefits from better-than-forecast macroeconomic data releases.

Gold loses traction after testing $5,200

Gold corrects lower after testing $5,200 but manages to stay in positive territory in the second hald of the day on Wednesday. The precious metal remains well supported by the deterioration of the geopolitical scenario in the Middle East, while the US Dollar's resilience caps the upside.