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...
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