MENU
Show navigationFXStreet
XAU/USD
Editorial
Gold Forecast and News
Gold keeps the bullish tone near $3,350
Gold extends its weekly advance, trading around $3,350 per troy ounce on Friday. The rally in XAU/USD is driven by broad-based weakness in the Greenback, particulalry after President Trump’s threat to impose 50% tariffs on European imports.
Latest XAU/USD News
Gold rallies past $3,350 as Trump escalates trade war with EU
By Christian Borjon Valencia | May 23, 20:45 GMT
Gold benefits from uncertain US budget situation – Commerzbank
By FXStreet Insights Team | May 23, 11:58 GMT
Gold back above $3,300 as geopolitical jitters persist – Commerzbank
By FXStreet Insights Team | May 23, 11:46 GMT
XAU/USD Technical Overview
XAU/USD
3357.86
Charts by TradingView Lightweight Charts
From a technical perspective, the overnight pullback from a two-week top shows some resilience below the 23.6% Fibonacci retracement level of the move up from the monthly low touched last week. Adding to this, oscillators on hourly/daily charts are holding in positive territory, suggesting that the path of least resistance for the Gold price remains to the upside. Some follow-through buying beyond the overnight swing high, around the $3,346 area, will reaffirm the constructive outlook and allow the XAU/USD pair to reclaim the $3,400 round figure.
On the flip side, any meaningful slide below the $3,300 mark is likely to find some support near the $3,260-$3,258 confluence – comprising the 38.2% Fibo. retracement level and the 200-period Simple Moving Average (SMA) on the 4-hour chart. The latter should act as a key pivotal point, which if broken decisively could make the Gold price vulnerable to accelerate the fall toward the 50% retracement level around the $3,232 region, en route to the $3,200 round figure.
Gold extends its weekly advance, trading around $3,350 per troy ounce on Friday. The rally in XAU/USD is driven by broad-based weakness in the Greenback, particulalry after President Trump’s threat to impose 50% tariffs on European imports.
Show navigationFXStreet
XAU/USD
Editorial
Gold Forecast and News
Gold keeps the bullish tone near $3,350
Gold extends its weekly advance, trading around $3,350 per troy ounce on Friday. The rally in XAU/USD is driven by broad-based weakness in the Greenback, particulalry after President Trump’s threat to impose 50% tariffs on European imports.
Latest XAU/USD News
Gold rallies past $3,350 as Trump escalates trade war with EU
By Christian Borjon Valencia | May 23, 20:45 GMT
Gold benefits from uncertain US budget situation – Commerzbank
By FXStreet Insights Team | May 23, 11:58 GMT
Gold back above $3,300 as geopolitical jitters persist – Commerzbank
By FXStreet Insights Team | May 23, 11:46 GMT
XAU/USD Technical Overview
XAU/USD
3357.86
Charts by TradingView Lightweight Charts
From a technical perspective, the overnight pullback from a two-week top shows some resilience below the 23.6% Fibonacci retracement level of the move up from the monthly low touched last week. Adding to this, oscillators on hourly/daily charts are holding in positive territory, suggesting that the path of least resistance for the Gold price remains to the upside. Some follow-through buying beyond the overnight swing high, around the $3,346 area, will reaffirm the constructive outlook and allow the XAU/USD pair to reclaim the $3,400 round figure.
On the flip side, any meaningful slide below the $3,300 mark is likely to find some support near the $3,260-$3,258 confluence – comprising the 38.2% Fibo. retracement level and the 200-period Simple Moving Average (SMA) on the 4-hour chart. The latter should act as a key pivotal point, which if broken decisively could make the Gold price vulnerable to accelerate the fall toward the 50% retracement level around the $3,232 region, en route to the $3,200 round figure.
Gold extends its weekly advance, trading around $3,350 per troy ounce on Friday. The rally in XAU/USD is driven by broad-based weakness in the Greenback, particulalry after President Trump’s threat to impose 50% tariffs on European imports.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.