Gold Price Analysis: XAU/USD stays depressed near $1,950 despite risk off mood

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  • 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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