- Analytics
- News and Tools
- Market News
- Gold Price Forecast: XAUUSD to suffer further declines toward $1,900
Gold Price Forecast: XAUUSD to suffer further declines toward $1,900
Gold Price keeps pushing lower. As FXStreet’s Dhwani Mehta notes, $1,900 could be next key support as bears refuse to give in.
More downside eyed in the week ahead
“The Fed expectations and the dollar’s price action will continue to have a significant impact on XAUUSD amid the Fed’s ‘blackout’ period and a lack of first-tier US economic data. Incoming Russia-Ukraine headlines will be eyed after Ukrainian President Volodymyr Zelenskyy met with US Secretary of State Blinken and Defense Secretary Austin on Sunday.”
“If sellers manage to gain a foothold below the $1,915 level, then a further sell-off to the $1,900 mark will be in the offing. The next stop for bearish traders is envisioned at the March lows of $1,890.”
“Any recovery attempts are likely to meet the initial supply at the 50-Daily Moving Averages (DMA) of $1,937, above which recapturing the 21-DMA at $1,943 will be critical for the additional upside. The $1,950 psychological level will be the level to beat for gold bulls.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
