Gold_Analysis1

Gold price struggles for a firm direction amid the uncertainty over the Fed’s rate-cut path. Geopolitical risk, along with the risk-off impulse, lends support to the safe-haven XAU/USD. Traders look to the US macro data for some impetus ahead of next week’s FOMC meeting.

Gold (XAU/USD) gathered bullish momentum and reached a new record high above $2,180 this week, boosted by falling US Treasury bond yields and the broad-based selling pressure surrounding the US Dollar (USD). The pair stays technically overbought ahead of next week’s key inflation data from the US.

Gold has been considered a highly valuable commodity for millennia and the gold price is widely followed in financial markets around the world. Mostly quoted in US Dollars (XAU/USD), gold price tends to increase as stocks and bonds decline. The metal holds its value well, making it a reliable safe-haven. It’s traded constantly based on the intra-day spot rate. Improve your technical analysis of live gold prices with the real-time XAU/USD chart, and read our latest gold news, expert analysis and gold price forecast.80 Pip's Done ✅💯

Gold price (XAU/USD) gains positive traction for the sixth successive day on Thursday and climbs back above the $2,030 level during the early part of the European session, closer to over a one-week high touched the previous day. Despite the Federal Reserve's (Fed) hawkish outlook on interest rates, the US Dollar (USD) drops to a three-week low and turns out to be a key factor underpinning the commodity. Apart from this, concerns about geopolitical tensions stemming from conflicts in the Middle East further benefit the precious metal's safe-haven status and remain supportive of the move up.

Gold price is up on Thursday, peaking intraday at $2,008.30 as the US Dollar came under selling pressure ahead of Wall Street’s opening and following the release of mixed United States (US) figures. XAU/USD, however, lost momentum as the session went by and now struggles to retain the $2,000 mark.

Gold and silver prices are seeing mild losses in early U.S. trading Wednesday. It’s a quieter marketplace at mid-week, with no new fundamental developments to significantly influence the markets. Risk appetite in the general marketplace is not robust, but neither is risk aversion keen. That’s keeping the safe-haven metals traders squelched at present. April gold was last down $4.50 at $2,046.90. March silver was last down $0.133 at $22.345.

Following a quiet European session near $2,020 on Tuesday, Gold turned north and advanced above $2,030. After Monday's sharp upsurge, the benchmark 10-year US Treasury bond yield is down more than 1% on the day, allowing XAU/USD to stretch higher.

Gold price (XAU/USD) extends last week's pullback from the $2,065 area, or a one-month peak and drifts lower through the first half of the European session on Monday. The downfall drags the precious metal to a one-week low, around the $2,022-2,021 area in the last hour and is sponsored by expectations that the Federal Reserve (Fed) will keep rates higher for longer, bolstered by Friday's upbeat US NFP report.

On the flip side, the $2,042-2,040 strong horizontal resistance breakpoint now seems to protect the immediate downside ahead of the 50-day Simple Moving Average (SMA), currently pegged near the $2,033-2,032 zone. A convincing break below the latter could drag the Gold price to the $2,012-2,010 area en route to the $2,000 psychological mark. Failure to defend the said support levels might shift the bias in favour of bearish traders and expose the 100-day SMA support near the $1,982 region, before the XAU/USD drops to the very important 200-day SMA, near the $1,965 area.Gold sell 2055Target 2016260 pips runningFull close sellEnjoy free signalsFollow My ChartSupport us

Gold price is back in the green, on its way to retest the two-week high of $2,056 set on Wednesday. The US Dollar is fading its uptick amid a renewed appetite for risk assets, as markets cheer China’s fiscal support while assessing the US Federal Reserve interest rate outlook.Target complete 220 pipsCheck my tar sell and buyEnjoy free signalsFollow My ChartSupport us