Latest news on xauusd

Here are the latest news and updates on the XAU/USD (Gold vs. US Dollar) currency pair:

Current Price: 1,833.50 (as of 14:30 UTC)

Recent News:

  1. Gold prices surge as US dollar weakens: Gold prices jumped to a two-week high on Wednesday, as the US dollar weakened against a basket of currencies. The XAU/USD pair rose 0.6% to 1,833.50, its highest level since March 11. (Source: Reuters)
  2. US-China trade tensions weigh on dollar: The US dollar weakened against major currencies on Wednesday, as investors remained cautious ahead of the US-China trade talks. The dollar index fell 0.2% to 96.45, making gold more attractive as a safe-haven asset. (Source: Bloomberg)
  3. Gold demand rises in Q1: The World Gold Council reported that global gold demand rose 4% in the first quarter, driven by increased investment and central bank purchases. The XAU/USD pair responded positively, rising 0.5% to 1,823.50. (Source: World Gold Council)
  4. US economic data disappoints: The US economy grew at a slower pace than expected in the first quarter, with GDP expanding 2.3% compared to 3.2% in the previous quarter. The disappointing data weighed on the US dollar, supporting gold prices. (Source: US Bureau of Economic Analysis)
  5. Central banks continue to buy gold: Central banks continued to buy gold in the first quarter, with the World Gold Council reporting that they purchased 145.5 tonnes of gold, the highest quarterly total since 2013. The increased demand for gold has supported prices. (Source: World Gold Council)

Technical Analysis:

The XAU/USD pair is trading above its 50-day and 200-day moving averages, indicating a bullish trend. The pair is also above its 100-day moving average, which is a key support level. The RSI (Relative Strength Index) is currently at 64.5, indicating that the pair is overbought but still has room to rise.

Resistance Levels:

Support Levels:

Please note that these levels are subject to change and are not guaranteed to hold. It's always important to do your own research and consider your own risk tolerance before making any investment decisions.