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- Gold Price Forecast: XAU/USD to hit $1,900 as Impending Golden Cross reinforces bullish interests
Gold Price Forecast: XAU/USD to hit $1,900 as Impending Golden Cross reinforces bullish interests
Gold price is gathering strength. XAU/USD looks to recapture $1,900 amid a potential Golden Cross, FXStreet’s Dhwani Mehta reports.
Uptrend remains well in place
“Gold price is awaiting a fresh catalyst to earn acceptance above the multi-month peak of $1,880. The next stop for Gold bulls is seen at the $1,900 threshold, above which doors will open toward May 2022 high at $1,910.”
“The upward-sloping 50-Daily Moving Average (DMA) has pierced through the flattish 200DMA for the upside. If the 50DMA closes Tuesday above the 200DMA, it would confirm a Golden Cross and strengthen the near-term bullish bias for Gold price.”
“Gold sellers could fight back control on rejection at the $1,880 level, prompting a corrective pullback toward the previous day’s low at $1,865. Further declines will challenge the $1,850 psychological level, below which a sell-off toward the bullish 21DMA at $1,819 cannot be ruled out.”
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