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 price is consolidating weekly losses near $2,160 early Friday, as risk sentiment remains sour and keeps the US Dollar underpinned. XAU/USD traders remain wary and refrain from placing fresh positional bets, as the focus shifts to next week’s US Federal Reserve monetary policy announcements
As observed on the daily timeframe, Gold price has charted a potential Bull Pennant formation, with a daily closing above the falling trendline resistance at $2,174 to confirm the bullish continuation pattern.
The doors would then open up again for a test of the record high at $2,195 on acceptance above Tuesday’s high of $2,185. The next key upside targets are seen at the $2,200 threshold and the $2,250 psychological level.
GOLD NOW BUY 2167
TP1 2171
TP2 2175
TP3 2195
SL 2150
Gold price is consolidating weekly losses near $2,160 early Friday, as risk sentiment remains sour and keeps the US Dollar underpinned. XAU/USD traders remain wary and refrain from placing fresh positional bets, as the focus shifts to next week’s US Federal Reserve monetary policy announcements
As observed on the daily timeframe, Gold price has charted a potential Bull Pennant formation, with a daily closing above the falling trendline resistance at $2,174 to confirm the bullish continuation pattern.
The doors would then open up again for a test of the record high at $2,195 on acceptance above Tuesday’s high of $2,185. The next key upside targets are seen at the $2,200 threshold and the $2,250 psychological level.
GOLD NOW BUY 2167
TP1 2171
TP2 2175
TP3 2195
SL 2150