- Analytics
- News and Tools
- Market News
- Gold Price Forecast: XAU/USD to stay in a range below $1,853 after closing the week above key $1,825 support
Gold Price Forecast: XAU/USD to stay in a range below $1,853 after closing the week above key $1,825 support
Gold price is trading around a flatline at the start of the week. XAU/USD is set to range between two key barriers amid light trading, FXStreet’s Dhwani Mehta reports.
Thursday’s high of $1,845 could challenge bearish commitments
“Gold price settled the previous week above the critical horizontal trendline support from the January 5 low at $1,825.
Therefore, Gold bulls could gather some courage to retest the previous support now turned resistance at the flattish 50-Daily Moving Average (DMA), currently pegged at $1,853. Ahead of that, Thursday’s high of $1,845 could challenge the bearish commitments.”
“On the downside, daily closing below the key support at $1,825 is needed to retest the previous day’s low at $1,819. Additional selling will call for a fresh downswing toward the $1,800 barrier.”
© 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
