Gold Price Forecast: XAUUSD clings above $1750 after dismal US housing data – by christianborjon Gold XAUUSD Metals Macroeconomics Technical Analysis
deral Reserve officials are crossing wires, emphasizing the need for higher interest rates after two soft October inflation reports. At the time of writing, XAUUSD is trading at $1755, below its opening price by 0.24%.The US National Association of Realtors reported that Existing Home Sales for October plunged a staggering 5.9%, below a 4.17% increase estimated by analysts.
XAUUSD’s key resistance levels lie at $1786, followed by $1800, and the 200-day Exponential Moving Average at $1802. On the other hand, XAUUSD support levels, the August 22 swing low at $1727.90, followed by the $1700 figure. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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