Gold Price Forecast: XAU/USD Glides Around $1,900, Anticipating Data to Unveil Fed’s Hawkish Signals – Confluence Detector The captivating dance of XAU/USD continues as it gracefully hovers around the $1,900 mark. All eyes are now fixated on the upcoming data releases, eagerly awaiting any signs of the Federal Reserve’s hawkish stance. The Confluence Detector, our trusty companion in deciphering market trends, stands ready to analyze the intricate web of factors influencing gold prices. With its keen eye for detail, it will help us navigate through the labyrinth of information and identify potential turning points. As the XAU/USD pair glides through the market, traders and investors alike are on the edge of their seats, anticipating the release of crucial data. This data holds the key to unlocking the Federal Reserve’s intentions, providing valuable insights into their hawkish or dovish leanings. In this thrilling saga, the Confluence Detector acts as our guide, shedding light on the convergence of technical levels, moving averages, and Fibonacci retracements. Its comprehensive analysis empowers us to make informed decisions and stay ahead of the game. So, as we witness the mesmerizing performance of XAU/USD, let us keep a watchful eye on the data that lies ahead. With the Confluence Detector by our side, we can navigate the twists and turns of the market and seize opportunities as they arise.

GOLD: US Dollar Hits Supply Zone, What Next?

Here's the latest news from Federal Reserve Chair Jerome Powell. While speaking at a conference in Portugal, Powell expressed optimism about the US economy and decreased the possibility of a recession, stating that the economy has shown resilience and is still growing, albeit at a modest pace. He acknowledged the possibility of a recession but

Gold Price Forecast: XAU/USD resilient despite Fed’s rate hike speculations on solid US data

Gold price regains momentum above $1900 despite increased odds of Fed rate hikes. US economic data underscores robust growth, pushing XAU/USD to test 200-day EMA. Treasury bond yields soar, underpinning projections of higher rates and potential headwinds for Gold demand. Gold price recovers some ground after sliding below the $1900 figure for the first time

Gold Price Forecast: XAU/USD to find a major floor at the 200-DMA of $1,856 – Credit Suisse

The decline in Gold is now on the cusp of Credit Suisse’s target of price and retracement support at $1,900/1,890. The bank analyzes XAU/USD technical outlook. Weekly close below $1,856 to reinforce the longer-term sideways range Gold has declined to our core target of $1,900/1,890 and with the rising 200-DMA seen not far below at

Breaking: ​​​​​​​Gold drops below $1,900 for the first time since mid-March

Stronger-than-expected US economic data boosts the US Dollar across the board. US Treasury yields spike higher, putting pressure on Gold. XAU/USD fell below $1,900/oz, reaching its lowest level in three months. Gold prices tumbled following the release of US economic data. XAU/USD broke below $1,900 for the first time since mid-March and fell to $1,894.

Gold Price Forecast: XAU/USD bears keep control, focus on $1,885 and Fed inflation gauge

Gold Price stays bearish near the lowest levels since March, braces for the second consecutive weekly loss. Hawkish Federal Reserve talks, upbeat United States data underpin US Dollar strength and weigh on XAU/USD. US-China jitters, Germany’s recession fears and fewer accolades for European Central Bank hawks also favor Gold sellers. China’s official PMIs, US PCE

Exciting Gold Price Forecast: XAU/USD stands firm above the $1,900 mark, while all eyes eagerly await the US PCE Price Index for a burst...

Gold price fails to attract any buyers or build on the overnight bounce from a multi-month low. Hawkish major central banks continue to act as a headwind for the non-yielding commodity. The US Dollar stands tall near a two-week high and also contributes to capping the XAU/USD. Investors keenly await the release of the US
  • Gold Price remains dicey as bears attack the key support while seeking confirmation of hawkish Fed bias.
  • Fed’s preferred inflation, FOMC Minutes and NFP will be crucial to watch for clear XAU/USD directions.
  • US-China headlines, central bankers’ speeches may entertain the Gold sellers.

Gold Price (XAU/USD) is facing uncertainty as bears continue to target key support levels, eagerly awaiting confirmation of a hawkish Fed bias. Traders should closely monitor the Fed’s preferred inflation indicators, FOMC Minutes, and NFP data for clearer directions on XAU/USD. Additionally, developments in US-China relations and speeches from central bankers could provide entertainment for Gold sellers.

The recent lack of clear direction in the yellow metal can be attributed to a cautious market sentiment ahead of crucial US inflation clues and mixed economic data from China. Furthermore, limited market participation due to quarter-end positioning has also contributed to the recent lack of movement in XAU/USD.

Yesterday, Gold Price (XAU/USD) dropped below the $1,900 threshold, hitting a 3.5-month low. This decline was fueled by positive US data, which increased expectations of more rate hikes by the Fed. Comments from Fed Chair Jerome Powell and Atlanta Federal Reserve President Raphael Bostic further supported this sentiment. It’s worth noting that the People’s Bank of China’s sustained defense of the Yuan, despite significant costs, along with China’s PMI prints below 50.0, have also exerted downward pressure on the Gold Price.

Meanwhile, with firmer equities and Treasury bond yields, traders are finding more favorable opportunities elsewhere, leaving Gold bears hopeful.

Gold Price: Key levels to watch

Our Technical Confluence Indicator suggests that Gold price is currently grappling with key intraday resistance while gradually surpassing short-term important support levels.

However, immediate recovery of the Gold Price is hindered by the $1,910 level, which includes Fibonacci 23.6% on a one-day basis and the previous weekly low.

On the downside, the lower band of the Bollinger on a one-day basis, Fibonacci 61.8% on a one-day basis, and Pivot Point one-week S1 collectively provide support near the psychological magnet of $1,900 for XAU/USD.

It’s worth noting that the Pivot Point one-month S1, around $1,905, offers immediate support for Gold sellers.

If the Gold Price manages to rise above $1,910, there is a possibility of a gradual climb towards the Fibonacci 38.2% on a one-week basis, near $1,930, and then towards the previous monthly low of approximately $1,934.

Alternatively, if the Gold Price breaks below $1,900, there is a relatively clear path to the downside before reaching the Pivot Point one-day S2 near $1,886.

Here is how it looks on the tool


About Technical Confluences Detector

The TCD (Technical Confluences Detector) is a tool that identifies and highlights price levels where there is a congestion of indicators, moving averages, Fibonacci levels, Pivot Points, and more. If you are a short-term trader, this tool can help you find entry points for counter-trend strategies and capture a few points at a time. If you are a medium-to-long-term trader, the TCD allows you to anticipate price levels where a medium-to-long-term trend may pause or reverse, providing insights on when to unwind positions or increase your position size.


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