Gold Price News & Forecast: XAU/USD $1,475 continues to cap upside

Yohay Elam FXStreet

Gold technical analysis: $1,475 continues to cap upside

The yellow metal is currently trading at $1,473 per Oz, having hit a high of $1,475.25 an hour ago. Notably, $1,475 capped upside on Monday, Tuesday and also on Nov. 14.

As a result, it is the level to beat for the bulls. A convincing break higher will likely yield a quick move to $1,480-$1,482. Read more...

XAU/USD struggles to gain altitude despite renewed US-China political tensions

Gold, a classic safe-haven asset, is having a tough time posting gains despite the renewed political tensions between the US and China.

The yellow metal remains trapped in a narrow range of $1,470 to $1,475 for the eighth straight hour. Read more…

Gold Technical levels

XAU/USD

Overview
Today last price	1474.7
Today Daily Change	2.21
Today Daily Change %	0.15
Today daily open	1472.49

Trends
Daily SMA20	1483.7
Daily SMA50	1491.93
Daily SMA100	1480.71
Daily SMA200	1395.85

Levels
Previous Daily High	1475.43
Previous Daily Low	1465.08
Previous Weekly High	1474.6
Previous Weekly Low	1445.8
Previous Monthly High	1519.04
Previous Monthly Low	1455.5
Daily Fibonacci 38.2%	1471.47
Daily Fibonacci 61.8%	1469.03
Daily Pivot Point S1	1466.57
Daily Pivot Point S2	1460.64
Daily Pivot Point S3	1456.21
Daily Pivot Point R1	1476.92
Daily Pivot Point R2	1481.35
Daily Pivot Point R3	1487.28

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

EUR/USD falls to near 1.1600 due to persistent bearish bias

EUR/USD depreciates after registering modest gains in the previous session, trading around 1.1610 during the Asian hours on Thursday. The technical analysis of the daily chart suggests a persistent bearish bias as the EUR/USD pair remains within the descending channel pattern.

GBP/USD underperforms as UK faces stagflation risks amid Middle East war

The Pound Sterling trades lower against its major currency peers, is down 0.22% around 1.3340 against the US Dollar, during the Asian trade on Thursday. The British currency faces selling pressures amid fears that the United Kingdom economy could face stagflation risks due to higher energy prices, a situation in which inflation accelerates with economic growth and employment conditions remaining stagnant.

Gold buyers stay hopeful amid Middle East war, China growth woes

Gold is building on the previous rebound in Thursday’s Asian trades, testing offers once again at the $5,200 threshold. Deeper escalation of the Middle East war and dovish US Federal Reserve monetary policy outlook continue to support Gold.

Top Crypto Gainers: Decred, Zcash, and Dogecoin lead recovery as Bitcoin crosses $72,000

Bitcoin trades above $72,500 at press time on Thursday, holding its 6% gain from the previous day, contributing to a broader market recovery. The total cryptocurrency market capitalization stands at over $2.43 trillion as the broader market sentiment improves significantly.

First Venezuela, now Iran: The US-China energy war escalates

At first glance, the latest escalation involving the United States with both Iran and Venezuela looks like another chapter in a long-running geopolitical story. But viewed through a broader strategic lens, something else may be unfolding: Energy.

Bittensor extends recovery despite retail demand slump

Bittensor, a leading Artificial Intelligence token, is aging up above $190 at the time of writing on Wednesday. Steady price increases characterise the broader crypto market, with Bitcoin holding above $71,000 and Ethereum above $2,000.