Gold Price News and Forecast: XAU/USD seesaws around $1,800 amid mixed sentiment

FXStreet Team FXStreet

Gold Price Analysis: XAU/USD pierces $1,800 inside short-term bullish flag

Gold prices print mild gains of 0.12% while taking the bids near $1,801.30 during the initial hour of Tokyo open on Monday. The yellow metal portrays a bullish flag on the hourly chart while keeping its trading momentum beyond a seven-day-old support line and 200-HMA.

Considering the bullion’s repeated bounces off near-term key supports, coupled with the MACD conditions, buyers may aim for $1,805 as an immediate resistance ahead of confirming its further run-up. In doing so, $1,811.60 holds the key to challenging the recent high, also the highest since late-2011, around $1,818.20.

Gold Price Analysis: XAU/USD seesaws around $1,800 amid mixed sentiment

Gold prices take rounds to $1,800, currently around $1,799.40, during the pre-Tokyo open Asian session on Monday. The bullion remains pressured following the two-day losing streak amid mixed clues.

The coronavirus (COVID-19) spread and the Sino-American tussle should ideally weigh on the market’s risk-tone sentiment and help the yellow metal to remain strong. However, Friday’s optimism, backed by expectations of further stimulus and virus vaccine news, seems to restrict the safe-haven demand.

Read more ...

XAU/USD

Overview
Today last price	1804.79
Today Daily Change	5.59
Today Daily Change %	0.31
Today daily open	1799.2

Trends
Daily SMA20	1766.72
Daily SMA50	1737.9
Daily SMA100	1688.1
Daily SMA200	1600.95

Levels
Previous Daily High	1810.74
Previous Daily Low	1794.24
Previous Weekly High	1818.17
Previous Weekly Low	1770.16
Previous Monthly High	1785.91
Previous Monthly Low	1670.76
Daily Fibonacci 38.2%	1800.54
Daily Fibonacci 61.8%	1804.44
Daily Pivot Point S1	1792.05
Daily Pivot Point S2	1784.89
Daily Pivot Point S3	1775.55
Daily Pivot Point R1	1808.55
Daily Pivot Point R2	1817.89
Daily Pivot Point R3	1825.05

Author

FXStreet Team

FXStreet

EUR/USD keeps the offered stance just above 1.1700

EUR/USD is coming under heavy selling pressure in what has been a rather grim start to the new trading week, with the pair now trading close to the 1.1700 support area as the US Dollar stages a solid rebound. The prevailing flight to safety mood continues to favour the Greenback, as investors react to the escalating conflict in the Middle East and trim risk exposure across the board.

GBP/USD hits new yearly lows near 1.3300

GBP/USD adds to the recent bearish tone, approaching to the key 1.3300 support to reach fresh YTD troughs against the backdrop of the robust performance of the US Dollar. Indeed, Cable’s decline comes amid the firm demand for the safe-haven space in the wake of the US and Israel attacks to Iran.

Gold battles to retain the positive momentum

Gold now surrenders part of the earlier advance past the $5,400 mark per troy ounce at the beginning of the week. Indeed, the precious metal’s strong uptick remains fuelled by increasing geopolitical tensions in the Middle East amid the intense demand for safer assets.