Gold’s price broke the key resistance of $2,140 last week, with prices rising 5%.
Economists at ANZ Bank analyze XAU/USD technical outlook. Cruising in an unchartered territory The last two days of consolidation have formed a resistance level near the recent high of $2,195.
A break of this resistance could see Gold trading above $2,200 range. However, a healthy price correction looks in the offing as the Relative Strength Index suggests an overbought level. If correction starts, the price could fall back to the key support level of $2,100.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: XAU/USD risks a correction, with eyes on US Nonfarm Payrolls dataGold price is on a steady corrective decline from an all-time high of $2,165 set on Thursday, as the US Dollar licks and Treasury bond yields lick their wounds heading into the critical US Nonfarm Payrolls (NFP) data release later on Friday.
Read more »
Gold Price Forecast: XAU/USD patiently waiting before challenging $2,200Gold price holds near record highs on Monday, with XAU/USD changing hands at around $2,184 a troy ounce.
Read more »
Gold Price Forecast: Easing monetary policy will be crucial to push XAU/USD higherHigher than expected US inflation number weighed on Gold. Economists at ANZ Bank analyze the yellow metal’s outlook.
Read more »
Gold Price Forecast: XAU/USD could rebound toward record highs if $2,145 support holdsGold price is licking its wounds near $2,160 after witnessing about 1% percent correction from near record highs of $2,195 on Tuesday.
Read more »
Gold (XAU/USD) Price Struggles for Direction, Silver (XAG/USD) Looks Boxed InThe weekly gold candle shows a restrictive range of just $25 as the precious metal looks for a driver to help break its current lethargy
Read more »
Gold Price Latest: XAU/USD Holds Gains, Awaits Key US DataGold managed to trade higher on Tuesday, maintaining its bullish run ahead of key US growth and PCE inflation data. Subdued gold volatility may soon lead to consolidation
Read more »