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 deflates to fresh lows, targets 1.1600

The selling pressure on EUR/USD now gathers extra pace, prompting the pair to hit fresh multi-week lows in the 1.1625-1.1620 band on Friday. The continuation of the downward bias comes in response to further gains in the US Dollar as market participants continue to assess the mixed release of US Nonfarm Payrolls in December.

GBP/USD breaks below 1.3400, challenges the 200-day SMA

GBP/USD remains under heavy fire and retreats for the fourth consecutive day on Friday. Indeed, Cable suffers the strong performance of the Greenback, intensified post-mixed NFP, and trades at shouting distance from its critical 200-day SMA near 1.3380.

Gold flirts with yearly tops around $4,500

Gold keeps its positive bias on Friday, adding to Thursday’s advance and challenging yearly highs in the $4,500 region per troy ounce. The risk-off sentiment favours the yellow metal despite the firmer tone in the Greenback and rising US Treasury yields.