Gold swinging wildly but sticking to $1,230.00


  • Risk appetite is starting to confuse itself as broader markets struggle to pick a direction on US election results.
  • Heaving US Treasuries and a Greenback in flux is seeing Gold struggle to maintain a firm hold in either direction.

Gold has taken some wild swings in early Wednesday's trading session, alternating between spikes to 1,232.00 and drops into 1,223.00 as broader market sentiment whipsaws on US mid-term elections.

The precious yellow metal still remains largely contained within Tuesday's range despite twitchy investors on US mid-term elections, but declining US Treasury yields could begin to dig out the low end of Gold's recent chart action.

Gold still remains up on the day, barely seeing gains above Wednesday's open at 1,227.00. US elections are heading towards a mixed result  for today, with Democrats seizing the House of Representatives and the Republican party on pace to retain a majority in the US Senate.

Gold Technical Levels

XAU/USD

Overview:
    Last Price: 1229.02
    Daily change: 2.4e+2 pips
    Daily change: 0.196%
    Daily Open: 1226.62
Trends:
    Daily SMA20: 1227.86
    Daily SMA50: 1211.76
    Daily SMA100: 1207.15
    Daily SMA200: 1245.57
Levels:
    Daily High: 1235.94
    Daily Low: 1223.2
    Weekly High: 1237.6
    Weekly Low: 1211.8
    Monthly High: 1243.43
    Monthly Low: 1182.54
    Daily Fibonacci 38.2%: 1228.07
    Daily Fibonacci 61.8%: 1231.07
    Daily Pivot Point S1: 1221.23
    Daily Pivot Point S2: 1215.85
    Daily Pivot Point S3: 1208.49
    Daily Pivot Point R1: 1233.97
    Daily Pivot Point R2: 1241.33
    Daily Pivot Point R3: 1246.71

 

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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD: Stable amid trade calm and German stimulus hopes

EUR/USD is trading around 1.1100, marginally higher. President Trump expressed optimism about reaching a trade deal with China while Germany's Scholz opened the door to stimulus. EZ Core CPI is confirmed at 0.9%.

EUR/USD News

GBP/USD steady below 1.2150 after Yellowhammer leak, as Corbyn calls for no'confidence

GBP/USD is trading below 1.2150 amid reports of food shortages in case of a hard Brexit, project Yellowhammer. Opposition leader Corbyn calls for a no-confidence motion against the government 

GBP/USD News

USD/JPY bounces off 106.25, focus on Fed minutes, Jackson Hole

USD/JPY bounces off the key support at 106.25 and heads back towards the 106.50 level, in response to downbeat Japanese trade data, risk-on action in the Asian equities and higher Treasury yields.

USD/JPY News

Gold trades with modest losses, still above $1500 mark

Gold prices edged lower for the second consecutive session on Monday, albeit managed to hold its neck above the key $1500 psychological mark.

Gold News

Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Bullish levels to watch after Binance announces Venus vs. Facebook's Libra

Cryptocurrencies have been advancing once again, with Bitcoin topping $10,500, Ethereum clawing its way back above $200, and Ripple extending its gains.

Read more

MAJORS

Cryptocurrencies

Signatures


  •  
  •  
  •  
  •  
  •