Welcome to the news page for Gold (XAUUSD). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
As for trends on XAUUSD, we’re seeing an uptrend on shorter timeframes — but a downtrend on the 90 day timeframe. As such, traders with short positions should be aware of the downtrend in place on the longer timeframes.
XAUUSD Moving Averages
The moving averages on XAUUSD indicate a trend that is clearly bearish. Moreover, it should also be noted that the 20 SMA just turned bearish today.
Below is a chart showing XAUUSD’s price with its moving averages.
The View From the Weekly Timeframe
At the moment, XAUUSD’s price is down $-7.1 (-0.41%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved up. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The weekly chart below shows XAUUSD’s price action over the past year.