Jan 24, 2020
Gold Price Analysis: XAU/USD ends the week above the $1570/oz level
- Bulls broke above 1570 on a daily closing basis.
- Bulls will likely set their eyes on the 1580 and 1600 levels.
Gold daily chart
XAU/USD is trading in an uptrend above the main daily simple moving averages (SMAs). After failing near the 1600 figure earlier in the month, the metal has been consolidating near the $1560 per troy ounce.
Gold four-hour chart
Gold broke above the 1570 resistance on a daily basis. Bulls will likely set their eyes on the 1580 and 1600 levels. Support is seen at 1570 and 1563 levels.
Additional key levels