Gold

(Last Updated November 24, 2020)

Hello! This is the news page for Gold. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:

The Trend

On XAUUSD, there is currently a downtrend on the 90, 30 and 14 day timeframes.

XAUUSD Moving Averages

XAUUSD’s moving averages tell a multi-facted story about its trend. The 100 and 200 day averages suggest a bullish trend, as they are pointing upwards, in contrast to the downward-facing 20 and 50 day averages that imply a bearish trend. Ultimately, this suggests a bearish trend on shorter timeframes, compared to a bullish trend when observing more than 3 months of data.

Below is a chart showing XAUUSD’s price with its moving averages.

The View From the Weekly Timeframe

At the time of this writing, XAUUSD’s price is down $-34.64 (-1.85%) from the week prior. It’s been a feast for bears operating on the weekly timeframe, as XAUUSD has now gone down 4 of the past 5 weeks. From a weekly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 5, 10 and 20 week timeframes. Looking further out, the moving averages on the weekly timeframe suggest a bearishness in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. XAUUSD’s weekly price action over the past 52 weeks can be seen via the chart below.