Gold Price News and Forecast: XAU/USD - Today’s Gold Upswing

FXStreet Team FXStreet

Gold climbs to fresh 7-week tops, just above $1490 level

Gold maintained its strong bid tone for the second consecutive session on Tuesday and climbed to seven-week tops, around the $1490 region in the last hour.

The precious metal added to the previous session's positive move and gained some follow-through traction through the early European session on Tuesday amid renewed concerns about US-China relations.

As investors looked past the latest trade optimism, China's criticism over the US interference in its internal affairs – concerning Taiwan, Hong Kong – underpinned the precious metal's perceived safe-haven status. Read more...

Today’s Gold Upswing and Lessons from Gold Tops

What a classic day Friday was! Gold moved a bit lower, miners moved significantly lower, and silver rallied. Truly classic and outstanding performance if one enjoys seeing topping patterns that are playing out according to their usual and likely characteristics. And Monday’s early session seems to be an encore.

Let’s start with the examination of the most recent price action in gold. Read more...

Gold continue sideways, trading in a bull flag formation

Gold continue sideways, trading in a bull flag formation as we predicted for several weeks & this could go on for several weeks (unfortunately it is!). We edge higher to 1486, closing in on important resistance at 1490/92.

Silver we wrote: finally beats 1710/12 as expected for a buy signal targeting 1726/30, perhaps as far as minor resistance at 1740/45 this week. Read more...

XAU/USD

Overview
Today last price	1490.56
Today Daily Change	4.70
Today Daily Change %	0.32
Today daily open	1485.86

Trends
Daily SMA20	1470.37
Daily SMA50	1477.25
Daily SMA100	1492.26
Daily SMA200	1414.91

Levels
Previous Daily High	1486.11
Previous Daily Low	1477.55
Previous Weekly High	1481.7
Previous Weekly Low	1470.7
Previous Monthly High	1515.38
Previous Monthly Low	1445.8
Daily Fibonacci 38.2%	1482.84
Daily Fibonacci 61.8%	1480.82
Daily Pivot Point S1	1480.23
Daily Pivot Point S2	1474.61
Daily Pivot Point S3	1471.67
Daily Pivot Point R1	1488.79
Daily Pivot Point R2	1491.73
Daily Pivot Point R3	1497.35

Author

FXStreet Team

FXStreet

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD clings to small gains near 1.1750

Following a short-lasting correction in the early European session, EUR/USD regains its traction and clings to moderate gains at around 1.1750 on Monday. Nevertheless, the pair's volatility remains low, with investors awaiting this weeks key data releases from the US and the ECB policy announcements.

GBP/USD remains confined in a range above mid-1.3300s ahead of UK jobs report

The GBP/USD pair extends its sideways consolidative price move through the Asian session on Tuesday and currently trades around the 1.3370-1.3365 region, nearly unchanged for the day. Traders seem reluctant and opt to wait for this week's important macro releases and the key central bank event risk before placing fresh directional bets.

Gold defends $4,300 as focus shifts to US NFP, PMI data

Gold price holds the $4,300 level, easing from the highest since October 21 in the Asian trading hours on Tuesday. The precious metal stays afloat on further US Federal Reserve rate cut bets. The US Nonfarm Payrolls report will take center stage later on Tuesday. Also, the US Retail Sales and Purchasing Managers Index will be published.

Top Crypto Losers: Aster, Midnight, and Ethena extend losses as selling pressure mounts

Aster, Midnight, and Ethena are the altcoins with the most losses over the last 24 hours, as the broader cryptocurrency market weakens amid Bitcoin dropping below $86,000.

NFP preview: Complex data release will determine if Fed was right to cut rates

The long wait is over, and the Bureau of Labor Statistics in the US will release nonfarm payrolls reports for both November and October at 1330 GMT on Tuesday. The overall NFP figure for October is expected to be -10k, however, it is expected to be influenced by a massive 130k drop in federal department workers.

Solana Price Forecast: SOL consolidates as spot ETF inflows near $1 billion signal institutional dip-buying

Solana (SOL) price hovers above $131 at the time of writing on Monday, nearing the upper boundary of a falling wedge pattern, awaiting a decisive breakout.