- Analytics
- News and Tools
- Market News
- Gold Price Forecast: XAU/USD needs to recapture $1,800 to extend the renewed upside
Gold Price Forecast: XAU/USD needs to recapture $1,800 to extend the renewed upside
Gold price finds fresh buyers after having defended the critical 200-Daily Moving Average (DMA) support at $1,785. The yellow metal eyes $1,800 following the latest uptick, FXStreet’s Dhwani Mehta notes.
Selling pressure will intensify on a sustained move below 21DMA at $1,777
“Bulls now yearn for a sustained break above the $1,800 barrier, with the next resistance seen at December 15 highs of $1,809. Fresh buying opportunities will emerge above the latter, calling for a test of the December 14 high at $1,814.”
“On the flip side, a breach of the 200DMA on a daily closing basis will reopen floors toward the bullish 21DMA at $1,777. Selling pressure will likely intensify on a sustained move below the critical short-term line of defense of 21DMA, fuelling a fresh downswing toward the $1,750 psychological level.”
© 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
