Gold Price Analysis: XAU/USD stays depressed near $1,950 despite risk off mood
- Gold remains sluggish around $1,950 after declining from $1,951.86 at the week’s start.
- Virus woes return to the table but hopes of further stimulus seem battling the safe-haven bulls.
- US-Iran and Sino-American tussles continue, Brexit headlines offer mixed clues.
- Fed Chair Powell’s speech will be the key.
Technical analysis
Repeated bounces off 50-day SMA, currently around $1,940, favor buyers targeting a break of the one-month-old falling trend line near $1,960.
ADDITIONAL IMPORTANT LEVELS
| OVERVIEW | |
|---|---|
| Today last price | 1949.28 |
| Today Daily Change | -1.27 |
| Today Daily Change % | -0.07% |
| Today daily open | 1950.55 |
| TRENDS | |
|---|---|
| Daily SMA20 | 1945.37 |
| Daily SMA50 | 1935.06 |
| Daily SMA100 | 1836.48 |
| Daily SMA200 | 1714.71 |
| LEVELS | |
|---|---|
| Previous Daily High | 1960.16 |
| Previous Daily Low | 1943.09 |
| Previous Weekly High | 1973.64 |
| Previous Weekly Low | 1932.88 |
| Previous Monthly High | 2075.32 |
| Previous Monthly Low | 1863.24 |
| Daily Fibonacci 38.2% | 1953.64 |
| Daily Fibonacci 61.8% | 1949.61 |
| Daily Pivot Point S1 | 1942.37 |
| Daily Pivot Point S2 | 1934.2 |
| Daily Pivot Point S3 | 1925.3 |
| Daily Pivot Point R1 | 1959.44 |
| Daily Pivot Point R2 | 1968.34 |
| Daily Pivot Point R3 | 1976.51 |
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