Gold Price Analysis: XAU/USD faces uphill battle after tumbling under $1,800 –” GoldZeus
Is more fiscal stimulus good for gold? That used to be the narrative in 2020, but 2021 is already different. The new narrative is that massive government spending will cause inflation, and that is pushing bond yields higher. Contrary to Treasuries, the precious metal has no returns, and thus it is less attractive.
Will XAU/USD continue falling? The charts seem to favor bears. Here are the levels to watch.
The Technical Confluences Indicator is showing that gold faces fierce resistance at $1,803, which is the convergence of the Bollinger Band one-day Lower, the Pivot Point one-day Support, and the previous monthly low. Read more…
Gold Price Analysis: XAU/USD could stretch lower with a break below $1,816
The XAU/USD pair closed the first day of the week in the negative territory and seems to have gone into a consolidation phase on Tuesday. As of writing, the pair was up 0.15% on the day at $1,821.
On the four-hour chart, the Relative Strength Index (RSI) indicator is moving sideways around 50, confirming XAU/USD’s indecisiveness in the near-term. Additionally, the pair is fluctuating between the Fibonacci 38.2% and 50% retracement levels of the six-day-long uptrend witnessed earlier in the month. Read more…
Gold Price Analysis: XAU/USD dives to 1-1/2-week lows, closer to $1800 mark
Gold dived to one-and-half-week lows during the early North American session, with bears now awaiting a sustained break below the $1800 round-figure mark.
The precious metal struggled to capitalize on its intraday positive move, instead met with some fresh supply near the $1826-27 region and now seems vulnerable to slide further. The prevalent risk-on environment –” as depicted by an extension of the recent bullish run in the equity markets –” kept a lid on the early uptick for the safe-haven XAU/USD. Read more…