Gold Price Forecast: XAU/USD sellers eye $1,915 and US inflation – Confluence Detector – by anilpanchal7 Gold XAUUSD Confluences Inflation RiskAversion
Hawkish Fed talks, pre-data positioning defend US Dollar bulls and weigh on XAU/USD price.
It’s worth noting that Friday’s downbeat prints of the US Nonfarm Payrolls joined the mixed Fed signals to trigger the US Dollar’s retreat from a multi-day high, which in turn allowed the Gold Price to recover from a multi-day-old support line. However, the weekend comments from Fed Governor Michelle Bowman appear hawkish and join the looming geopolitical fears surrounding China to exert downside pressure on the XAU/USD.
That said, Fibonacci 61.8% on one-month, around $1,935 by the press time, acts as the last defense of the Gold buyers, a break of which could quickly drag the quote toward $1,915 support confluence encompassing Pivot Point one-month S1 and one-day S2. Following that, the previous daily high and the upper band of the Bollinger on the hours chart could test the XAU/USD run-up near $1,948.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: XAU/USD keeps $1,960 in the spotlight as United States inflation loomGold Price Forecast: XAU/USD keeps $1,960 in the spotlight as United States inflation loom – by anilpanchal7 Gold XAUUSD Inflation Fed RiskAversion
Read more »
Gold Price Forecast: XAU/USD struggles to capitalize on post-NFP bounce from multi-week lowGold Price Forecast: XAU/USD struggles to capitalize on post-NFP bounce from multi-week low – by hareshmenghani Gold Commodities Fed InterestRate XAUUSD
Read more »
Gold Coast business robbed at gunpointA business in Chicago's Gold Coast neighborhood was robbed at gunpoint Friday night.
Read more »
Chicago Dior store in Gold Coast robbed at gunpoint, CPD saysAn armed male suspect made his way through the back of the Dior store in the Gold Coast Friday night and pointed a gun at employees while getting away with merchandise.
Read more »
Insight: Amazon rainforest gold mining is poisoning scores of threatened speciesIn a camping tent in the Peruvian jungle, four scientists crowded around a tiny patient: An Amazonian rodent that could fit in the palm of a human hand.
Read more »