Gold Price Forecast: XAU/USD Rises to $1857, Can’t Settle Above $1850 Yet

Get real time updates directly on you device, subscribe now.

  • Hours of high volatility in financial markets after US inflation data.
  • Metals fall significantly but then rebound with greater intensity.
  • Gold remains in positive territory recovering from lows in weeks.

Gold is trading in the $1850 zone after having had sharp ups and downs in the last few hours. The markets in general show volatility, which was accentuated after the US inflation report for April.

The US Consumer Price Index rose 0.3% in April, taking the annual rate to 8.3%, higher than the 8.1% market consensus and lower than the 8.5% in March, which had been the highest in four decades .

Following the data, Treasury yields jumped and led XAU/USD to fall to $1,834, close to the Asian session low of $1,831 (lowest since mid-February). Then the dollar and bonds reversed direction, especially after Wall Street opened, causing gold to recover from all post-data losses.

The yellow metal even climbed as high as $1,857, posting a new high for the day. But the bullish tone has not yet been reinforced given the difficulty of the price in holding above $1,850. Resistances are then seen at $1865 and $1872. In the opposite direction, immediate support looms at $1840 and then the $1830 zone will follow.

Technical levels


Last Price Today 1854.67
Today’s Daily Change 16.27
Today’s Daily Change % 0.89
Today’s Daily Opening 1838.4
20 Daily SMA 1911.72
50 Daily SMA 1933.22
100 Daily SMA 1882.77
200 Daily SMA 1835.72
Previous Daily High 1865.49
Previous Daily Minimum 1835.55
Previous Maximum Weekly 1909.83
Previous Weekly Minimum 1850.44
Monthly Prior Maximum 1998.43
Previous Monthly Minimum 1872.24
Daily Fibonacci 38.2% 1846.99
Daily Fibonacci 61.8% 1854.05
Daily Pivot Point S1 1827.47
Daily Pivot Point S2 1816.54
Daily Pivot Point S3 1797.53
Daily Pivot Point R1 1857.41
Daily Pivot Point R2 1876.42
Daily Pivot Point R3 1887.35

Source: Fx Street

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

buy kamagra buy kamagra online $255 payday loans online same day no denial payday loans direct lenders only