XAU/USD to see further gains once above $1,814

Gold bulls are re-attempting the key $1,814 hurdle amid buying resurgence. Acceptance above the latter is critical for further upside, FXStreet’s Dhwani Mehta report.

$1,814 remains a tough nut to crack for XAU/USD bulls

“The Fed speculation-led dynamics in the yields and the greenback will influence gold price in the coming days amid a lack of top-tier US economic news and holiday-thinned trading.”

“Bulls need a decisive break above the December highs of $1,814 to resume the recent uptrend. The next critical bullish target is envisioned at the $1,820 round number.

“Gold buyers remain hopeful so long as the mildly bullish 50-DMA at $1,803 is defended. A break below that level will expose the 200-DMA at $1,797. The 100-DMA at $1,791 is likely to offer strong support on additional declines.”  

See – Gold Price Forecast: XAU/USD at risk of plunging below $1,500 – Credit Suisse