Gold Price News and Forecast: XAU/USD spot remains in a volatile sideways trend


Gold Price Analysis: Dual support opens door to $1,743 on “quadruple witching” Friday– Confluence Detector

Gold has been trading in a narrow range but could ready to break to higher ground as it has strong support. Volatility is set to increase on as options and futures are set to expire on Wall Street on "quadruple witching Friday." 

The Technical Confluences Indicator is showing that XAU/USD has significant support at $1,725, which is a dense cluster of lines including the Simple Moving Average 50-15m, the SMA 100-1h, the SMA 50-1h, the SMA 200-15m, the Fibonacci 38.2% one-day, the SMA 5-1h, and the Bollinger Band 4h-Middle. Read More...

XAUUSD

 

Gold Spot remains in a volatile sideways trend

Gold Spot remains in a volatile sideways trend as expected. We cannot hold positions for long as prices chop up & down quite violently. Shorts at 1728/30 unfortunately stopped above 1733 before we reversed from 1737/39 to 1718/16. We had 2 buying opportunities here for a bounce to 1725/26, so a profitable day in the end.

Silver Spot sideways as expected & outlook remains neutral/negative in the trend. Again our shorts at strong resistance at 1750/60 worked perfectly on the slide to first support at 1727/25. We bottomed exactly here. Read More...

 

Gold Price Analysis: Bulls looking to extend intraday positive move beyond $1730-32 region

Gold built on its steady intraday positive move through the early European session and was last seen trading near daily tops, just above the $1730 level.

The commodity caught some fresh bids on the last day of the week and staged a goodish bounce from a short-term ascending trend-line support, extending from monthly lows around the $1670 region. The uptick was supported by fresh coronavirus jitters. Read More...

XAU/USD

Overview
Today last price 1729.37
Today Daily Change 6.27
Today Daily Change % 0.36
Today daily open 1723.1
 
Trends
Daily SMA20 1720.39
Daily SMA50 1715.67
Daily SMA100 1656.53
Daily SMA200 1578.86
 
Levels
Previous Daily High 1737.83
Previous Daily Low 1717.61
Previous Weekly High 1744.75
Previous Weekly Low 1677.73
Previous Monthly High 1765.38
Previous Monthly Low 1670.72
Daily Fibonacci 38.2% 1725.33
Daily Fibonacci 61.8% 1730.11
Daily Pivot Point S1 1714.53
Daily Pivot Point S2 1705.96
Daily Pivot Point S3 1694.31
Daily Pivot Point R1 1734.75
Daily Pivot Point R2 1746.4
Daily Pivot Point R3 1754.97

 

 

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