Following a quiet Asian session, Gold turned north and advanced to $2,180 in the American session. Although the benchmark 10-year US Treasury bond yield stays in positive territory above 4.2%, the selling pressure surrounding the USD supports XAU/USD.
The daily chart for the XAU/USD pair shows that bulls retain control. The bright metal develops above all its moving averages, with the 20 Simple Moving Average (SMA) heading firmly north below the current level while above also bullish 100 and 200 SMAs. At the same time, technical indicators have turned flat within positive levels after correcting extreme overbought conditions, reflecting absent selling interest.
Gold has been considered a highly valuable commodity for millennia and the gold price is widely followed in financial markets around the world. Mostly quoted in US Dollars (XAU/USD), gold price tends to increase as stocks and bonds decline. The metal holds its value well, making it a reliable safe-haven. It's traded constantly based on the intra-day spot rate. Improve your technical analysis of live gold prices with the real-time XAU/USD chart, and read our latest gold news, expert analysis and gold price forecast.
gold buy now 2174
TP1 2180
TP2 2190
TP3 2200
SL 2150
The daily chart for the XAU/USD pair shows that bulls retain control. The bright metal develops above all its moving averages, with the 20 Simple Moving Average (SMA) heading firmly north below the current level while above also bullish 100 and 200 SMAs. At the same time, technical indicators have turned flat within positive levels after correcting extreme overbought conditions, reflecting absent selling interest.
Gold has been considered a highly valuable commodity for millennia and the gold price is widely followed in financial markets around the world. Mostly quoted in US Dollars (XAU/USD), gold price tends to increase as stocks and bonds decline. The metal holds its value well, making it a reliable safe-haven. It's traded constantly based on the intra-day spot rate. Improve your technical analysis of live gold prices with the real-time XAU/USD chart, and read our latest gold news, expert analysis and gold price forecast.
gold buy now 2174
TP1 2180
TP2 2190
TP3 2200
SL 2150
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