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- Gold Price Forecast: XAU/USD set to post new December highs
Gold Price Forecast: XAU/USD set to post new December highs
At the beginning of the new week, gold is staying quiet around $1,810. As FXStreet’s Dhwani Mehta notes, XAU/USD awaits a sustained move above $1,815 amid favorable technicals.
Gold yearns for acceptance above December highs amid bullish technical setup
“Gold bulls need to clear the December highs of $1,814 on a daily closing basis to extend the previous week’s rebound. The next critical target for bulls is pegged at the $1,820 round number.”
“The mildly bullish 50-DMA at $1,802 could limit any immediate downside move, below which the 200-DMA of $1,797 will be put to test. The 100-DMA at $1,790 is likely to challenge the bullish commitments should the bearish momentum accelerate.”
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