Gold Price News and Forecast: XAU/USD to test $1872 amid US stimulus hopes and covid woes


Gold Futures: Recovery stays in place

Open interest in gold futures markets reversed three consecutive daily pullbacks and increased by around 4.9K contracts on Tuesday according to flash data from CME Group. On the other hand, volume shrunk for the second session in a row, this time by around 33.3K contracts.

Gold now targets $1,900/oz

The weekly recovery in gold prices seems to have further legs to go in light of Tuesday's positive price action against the backdrop of rising open interest. That said, the next hurdle of relevance now sits at the key $1,900 mark per ounce in the short-term horizon. Read more...

XAUUSD

Gold Price Analysis: XAU/USD to test $1872 amid US stimulus hopes and covid woes

Gold (XAU/USD) extended the bounce from six-week lows on Tuesday, finishing the day with moderate gains well above the $1850 level. On Wednesday, the yellow metal gathers pace to test the $1872 hurdle ahead of US CPI, FXStreet's Dhwani Mehta reports.

See – Gold Price Analysis: XAU/USD to gun towards $2,000 over 2021 – TDS

Key quotes: "Gold looks to build onto Tuesday's rebound on Wednesday, with all eyes awaiting the US CPI report and the House vote on Trump's removal from the Office after the deadly Capitol Hill attack. The greenback and the US rates continue their overnight weakness, which is likely to keep gold buoyed." Read more...

Gold Price Analysis: XAU/USD clings to gains near weekly tops, around $1860 region

Gold traded with a mild positive bias through the early European session and was last seen hovering near the top end of its weekly trading range, around the $1860 region.

Following the previous day's modest pullback from the vicinity of 50-day SMA, the precious metal managed to regain positive traction and edged higher for the second consecutive session on Wednesday. The uptick was supported by a softer tone surrounding the US dollar, which tends to benefit dollar-denominated commodities, including gold. Read more...

XAU/USD

Overview
Today last price 1854.41
Today Daily Change -1.51
Today Daily Change % -0.08
Today daily open 1855.92
 
Trends
Daily SMA20 1885.9
Daily SMA50 1866.92
Daily SMA100 1890.73
Daily SMA200 1841.42
 
Levels
Previous Daily High 1863.83
Previous Daily Low 1836.74
Previous Weekly High 1959.42
Previous Weekly Low 1828.27
Previous Monthly High 1906.87
Previous Monthly Low 1775.52
Daily Fibonacci 38.2% 1853.48
Daily Fibonacci 61.8% 1847.09
Daily Pivot Point S1 1840.5
Daily Pivot Point S2 1825.07
Daily Pivot Point S3 1813.41
Daily Pivot Point R1 1867.59
Daily Pivot Point R2 1879.25
Daily Pivot Point R3 1894.68

 

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