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:
If we observe the 90 and 30 day timeframes, we see a downtrend in place for XAUUSD.
XAUUSD Moving Averages
The moving averages on XAUUSD summarize its price action in an interesting way. Of the 20, 50, 100, and 200 day averages — three of them (all but the 200) — are bearish, implying a downward trend, save for a spike that occurred about 6 months ago.
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 up $5.43 (0.31%) from the week prior. Moreover, note that the weekly chart shows that XAUUSD has seen 2 straight up weeks. Regarding the trend, note that the strongest trend exists on the 10 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. XAUUSD’s weekly price action over the past 52 weeks can be seen via the chart below.