Gold Price News and Forecast: XAU/USD’s fate hinges on Treasury yields, Powell’s speech

Gold analysis: Remains above 1,700.00

Instead of testing the support of the 1,700.00 level the price for gold began to trade sideways even before it was reached. Since the middle of Wednesday's GMT trading hours, the price has been fluctuating between 1,710.00 and 1,720.00. On Thursday, the bullion was being approached by the 55 and 100-hour simple moving average.

In the near term future, the price could be pushed down by the 55-hour simple moving average. In this case scenario the price would eventually test the support of the 1,700.00 level. Read more...


Gold Price Forecast: XAU/USD’s fate hinges on Treasury yields, Powell’s speech

Gold (XAU/USD) reached fresh nine-month lows at $1702 amid a renewed uptick in the US Treasury yields, as the bond market turmoil resumed on Wednesday. Gold managed to recover some ground and finished the day at $1714, still losing significantly on a daily basis. The latest remarks from Chicago Fed President Charles Evans, citing that the recent rise in yields signaled optimism on the economic outlook, powered the latest leg up in the yields. Meanwhile, upbeat US ISM Services PMI outweighed the sluggish ADP jobs report, boosting the Treasury yields along with the greenback.

As risk-aversion continues to remain the main theme so far this Thursday, gold bulls are licking their bulls while attempting a tepid recovery. The surge in Treasury yields led to a sharp sell-off in the global stocks, as investors remain worried about a potential overheating of the economy. Read more...


Gold Price Analysis: XAU/USD bears turn cautious near descending channel support

Gold struggled to capitalize its modest intraday recovery gains, instead met with some fresh supply near the $1721 region. The commodity refreshed daily lows, around $1707-06 region in the last hour and remained well within the striking distance of nine-month lows touched on Wednesday.

The US dollar buying picked up pace since the early European session, which, in turn, was seen as a key factor exerting downward pressure on the dollar-denominated commodity. A softer risk tone around the equity markets and the US bond yields might help limit losses for the XAU/USD. Read more...


Today last price 1713.99
Today Daily Change -0.37
Today Daily Change % -0.02
Today daily open 1714.36
Daily SMA20 1789.47
Daily SMA50 1836.41
Daily SMA100 1852.73
Daily SMA200 1860.38
Previous Daily High 1740.6
Previous Daily Low 1702
Previous Weekly High 1816.07
Previous Weekly Low 1717.24
Previous Monthly High 1871.9
Previous Monthly Low 1717.24
Daily Fibonacci 38.2% 1716.75
Daily Fibonacci 61.8% 1725.85
Daily Pivot Point S1 1697.37
Daily Pivot Point S2 1680.39
Daily Pivot Point S3 1658.77
Daily Pivot Point R1 1735.97
Daily Pivot Point R2 1757.59
Daily Pivot Point R3 1774.57


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Take advantage of market volatility with our daily Forex, Crypto and Indices Trade Ideas!

Become Premium!    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD recaptures 1.2050 amid upbeat EZ PMIs, USD decline

EUR/USD is trading above 1.2050 after upbeat Eurozone Preliminary PMIs. The US dollar remains heavily offered across the board amid a mixed market mood, in the wake of Biden's plan for a tax hike. US PMIs awaited. 


GBP/USD holds gains below 1.3900 amid upbeat UK data

GBP/USD is consolidating gains below 1.3900, as the US dollar resumes decline after Biden's tax hike plan fuelled rally fades. The UK Retail Sales and PMIs beat expectations, offering support to the pound. 


Bitcoin, Ethereum and XRP plummet, breaching critical support levels

Bitcoin price has dropped 12.7% since yesterday and shows no signs of stopping. Ethereum price follows the pioneer crypto’s lead and might retest $2,000 again. Unlike BTC or ETH, XRP price shows signs of recovery as long as it stays above a critical demand zone.

Read more

XAU/USD eases from tops, downside remains cushioned

Gold struggled to capitalize on its intraday positive move to the $1,790 region. A modest bounce in the equity markets, US bond yields exerted some pressure. The prevalent USD selling bias should help limit the downside for the commodity.

Gold News

Bionano Genomics Inc runs into technical resistance, put options may work here

BNGO shares have continued to suffer post the retail meme crowd moving on. BNGO shares bounce from lows as DeMark buy signal flashes on Monday. BNGO shares trend up to resistance at 100 day moving average.

Read more