Gold Price News and Forecast: XAU/USD set to retest the key support at $1682


Gold Price Analysis: XAU/USD to race higher towards $2000 by year-end – DBS Bank

Gold (XAU/USD) depreciated 10% in 1Q21, but this does not signal a gold bear market. Joanne Goh, Strategist at DBS Bank, believes there is still upside potential for gold to trade towards $2,000/oz by year-end.

Gold price has been recovering after its 10.5% depreciation in the first quarter. We reiterate that this is not the beginning of a gold bear market. A lower US Treasury yield after peaking at 1.75% last quarter should set the stage for a better quarter ahead for gold.” Read more...

Gold Price Analysis: XAU/USD set to retest the key support at $1682 – Credit Suisse

Gold (XAU/USD) has been capped for now at $1755/65 to maintain its immediate downside bias, the Credit Suisse analyst team reports.

Gold strength has been capped, for now at least, below resistance at $1755/65 and whilst below here the outlook will stay seen lower for a retest of key support at $1682/71 – the 38.2% retracement of the entire 2015/2020 bull market and the recent and June 2020 lows. An eventual break in due course can see support next at $1620/15 and ultimately the ‘measured top objective’ and 50% retracement at $1564/61. Read more...

Gold Price Analysis: XAU/USD needs a catalyst to unlock a breakout – DBS Bank

Within gold’s current consolidative phase, a prior 1660-1670 support confluence has held well to deliver the consequence of a plausible near-term bullish double bottom pattern. XAU/USD has traded a 38.2% Fibonacci retracement of 1046 (December 2015 lows) – 2075 (August 2020 highs) at 1682 – this drains selling momentum, Benjamin Wong, Strategist at DBS Bank, briefs.

Gold has developed a minor double bottom and if the pattern delivers, there remains a nudge higher. What’s more, 1671, which is the monthly Ichimoku chart’s kijun support is the level to make or break as gold continues to find its stability pulse.” Read more...

XAU/USD

Overview
Today last price 1746.36
Today Daily Change 1.10
Today Daily Change % 0.06
Today daily open 1745.26
 
Trends
Daily SMA20 1732.01
Daily SMA50 1755.92
Daily SMA100 1806.38
Daily SMA200 1858.32
 
Levels
Previous Daily High 1748.97
Previous Daily Low 1723.8
Previous Weekly High 1758.74
Previous Weekly Low 1721.34
Previous Monthly High 1759.98
Previous Monthly Low 1676.87
Daily Fibonacci 38.2% 1739.36
Daily Fibonacci 61.8% 1733.41
Daily Pivot Point S1 1729.72
Daily Pivot Point S2 1714.17
Daily Pivot Point S3 1704.55
Daily Pivot Point R1 1754.89
Daily Pivot Point R2 1764.51
Daily Pivot Point R3 1780.06

 

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