Gold Price Forecast: Hovering around $1,820 in a quiet start to the week
Premium|Take advantage of 60% OFF on your first month.
Grab this special offer, it's 7 months for FREE deal! And access ALL our articles and analysis.
You have reached your limit of 5 free articles for this month.
BLACK FRIDAY SALE! 60% OFF!
Grab this special offer, it's 7 months for FREE deal! And access ALL our articles and analysis.
CLAIM OFFERXAU/USD Current price: $1,819.83
- A holiday in the US maintains the asset's trading within familiar levels.
- The macroeconomic calendar has nothing relevant to offer this week.
- XAU/USD is neutral in the near term, with the risk skewed to the upside in the wider perspective.
Spot gold seesaws around Friday’s close, with trading limited amid US markets closure due to Martin Luther King day. The dollar managed to advance modestly during the European session, resulting in the metal trimming early gains.
Generally speaking, the week will be a quiet one, as the macroeconomic calendar has nothing relevant to offer. Nevertheless, market participants will be keeping their eyes on government bond yields, which lately reflect inflation-related fears.
Gold price short-term technical outlook
Gold trades at around $1,819 a troy ounce, neutral-to-bullish according to the daily chart. The bright metal holds above all of its moving averages, with the 20 SMA grinding higher above the longer ones. Technical indicators, in the meantime, remain within positive levels, although lacking directional strength.
The near term picture for the XAU/USD pair is plain neutral, as a flat 20 SMA provides intraday resistance, while technical indicators hover directionless around their midlines. Bulls may have better chances if the metal breaks above 1,829.60, a relevant resistance level.
Support levels: 1.812.30 1,805.00 1,797.70
Resistance levels: 1,829.60 1,842.85 1,851.30
XAU/USD Current price: $1,819.83
- A holiday in the US maintains the asset's trading within familiar levels.
- The macroeconomic calendar has nothing relevant to offer this week.
- XAU/USD is neutral in the near term, with the risk skewed to the upside in the wider perspective.
Spot gold seesaws around Friday’s close, with trading limited amid US markets closure due to Martin Luther King day. The dollar managed to advance modestly during the European session, resulting in the metal trimming early gains.
Generally speaking, the week will be a quiet one, as the macroeconomic calendar has nothing relevant to offer. Nevertheless, market participants will be keeping their eyes on government bond yields, which lately reflect inflation-related fears.
Gold price short-term technical outlook
Gold trades at around $1,819 a troy ounce, neutral-to-bullish according to the daily chart. The bright metal holds above all of its moving averages, with the 20 SMA grinding higher above the longer ones. Technical indicators, in the meantime, remain within positive levels, although lacking directional strength.
The near term picture for the XAU/USD pair is plain neutral, as a flat 20 SMA provides intraday resistance, while technical indicators hover directionless around their midlines. Bulls may have better chances if the metal breaks above 1,829.60, a relevant resistance level.
Support levels: 1.812.30 1,805.00 1,797.70
Resistance levels: 1,829.60 1,842.85 1,851.30
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.