Gold Price News and Forecast: XAU/USD technical set up screams sell

FXStreet Team FXStreet

Gold Price Analysis: XAU/USD drops to fresh eight-month lows, inching closer to $1750 level

Gold edged lower through the early European session and dropped to fresh eight-month lows, around the $1756 level in the last hour.

The precious metal added to the previous day's heavy losses and witnessed some follow-through selling for the second consecutive session on Friday. The overnight slump was sponsored by a sudden spike in the US Treasury bond yields, which tends to drive flows away from the non-yielding yellow metal. Read more...

Gold Price Analysis: XAU/USD technical set up screams sell

Gold (XAU/USD) hits four-day lows at $1756 and risks a drop below $1750 amid bearish technical setup, FXStreet’s Dhwani Mehta reports.

“Should the sell-off in the Treasury yields accelerate, it could drag global stocks lower while reviving the haven demand for the greenback. Such a move could limit the bounce in the metal, paving the way for the next leg lower.” Read more...

Gold Price Analysis: XAU/USD hangs near multi-month lows, moves little post-US data

Gold maintained its offered tone through the early North American session and was last seen hovering around the $1763 region, just above eight-month lows touched earlier this Friday.

The precious metal extended this week's rejection slide from 200-day EMA and witnessed some follow-through selling on the last trading day of the week. The downfall was exclusively sponsored by a strong bid tone surrounding the US dollar, which tends to drive flows away from the dollar-denominated commodity. Read more...

XAU/USD

Overview
Today last price	1761.69
Today Daily Change	-8.01
Today Daily Change %	-0.45
Today daily open	1769.7

Trends
Daily SMA20	1813.05
Daily SMA50	1848.27
Daily SMA100	1860.21
Daily SMA200	1860.3

Levels
Previous Daily High	1805.86
Previous Daily Low	1765.56
Previous Weekly High	1827.11
Previous Weekly Low	1760.72
Previous Monthly High	1959.42
Previous Monthly Low	1802.8
Daily Fibonacci 38.2%	1780.95
Daily Fibonacci 61.8%	1790.47
Daily Pivot Point S1	1754.89
Daily Pivot Point S2	1740.07
Daily Pivot Point S3	1714.59
Daily Pivot Point R1	1795.19
Daily Pivot Point R2	1820.67
Daily Pivot Point R3	1835.49

Author

FXStreet Team

FXStreet

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