XAUUSD Chart — Gold Spot US Dollar Price — TradingView (2024)

FAQs

Is XAUUSD a buy or sell? ›

XAUUSD Signals & Forecast

There are mixed signals in the currency pair today. The XAU/USD currency pair holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal.

All else being equal, a stronger U.S. dollar tends to keep the price of gold lower and more controlled, while a weaker U.S. dollar is likely to drive the price of gold higher through increasing demand (because more gold can be purchased when the dollar is weaker).

The most active XAU/USD trading takes place during the North American trading session (3 pm – 11:00 pm GMT+3). Slightly less activity is observed during the European session (10:00 am – 6:00 pm GMT+3). You can find an approximate schedule for both sessions with regards to respective time zones in the table below.

In India, gold holds immense emotional, spiritual, and financial value, with auspicious days like Dhanteras being popular for gold purchases. The year 2024 features significant days like Pushya Nakshatra, Makar Sankranti, Ugadi, Akshaya Tritiya, Navratri, Dussehra, Dhanteras, and Balipratipada for buying gold.

Red areas above the Last Price will tend to provide resistance to limit the upward move. Blue areas above the Last Price will tend to provide support to confirm the upward move. Red areas below the Last Price will tend to provide resistance to confirm the downward move.

The “XAUUSD 1-Minute Scalping Strategy” is a short-term trading strategy based on ATR and EMA indicators, tailored for gold (XAUUSD) trading. The strategy leverages the principles of dynamic stop-loss and take-profit levels and trend following to quickly capture price fluctuations.

In this strategy, a trader would look to buy gold if a shorter-term moving average crossed above a longer-term moving average and sell when the shorter-term moving average crosses below the longer-term average.

For example, many traders have found success adapting strategies based on trend lines, Fibonacci analysis and overbought/oversold oscillators like RSI and Stochastics. For short-term traders, a classic way to try to profit from the frequent trends in gold is to use a moving average crossover strategy.

Gold prices typically move in contrast to the US dollar. So, factors like GDP growth, inflation, employment data, interest rates and the monetary policies of the world's more influential central banks all affect the price of gold.

GOLD Analyst Recommendation Trends

In the current month, GOLD has received 20 Buy Ratings, 2 Hold Ratings, and 0 Sell Ratings. GOLD average Analyst price target in the past 3 months is $22.88.

What is the future of XAUUSD? ›

However, the short-term XAUUSD forecast will become slightly bearish if there is another daily close below $2300 in the week ahead, which could lead to further short-term selling toward the next support level at $2222.

Historical gold price averages over the past 50 years indicate the best time of year to buy gold is at the start of each calender year and again in the middle of summer, early July.