Gold down 👇

Gold pulls away from daily highs, holds above $2,200
Gold retreats from daily highs but holds comfortably above $2,200 in the American session on Thursday. The benchmark 10-year US Treasury bond yield stays near 4.2% after upbeat US data and makes it difficult for XAU/USD to gather further bullish momentum

Technical readings in the 4-hour chart hint at higher highs ahead. XAU/USD extends its advance beyond bullish moving averages, with the 20 SMA currently providing dynamic support at around $2,186.20. Finally, the Momentum indicator eases within positive levels but remains above its midline. The RSI indicator, on the other hand, keeps heading north, approaching overbought territory, supporting a bullish continuation.

Gold has been considered a highly valuable commodity for millennia and the gold price is widely followed in financial markets around the world. Mostly quoted in US Dollars (XAU/USD), gold price tends to increase as stocks and bonds decline. The metal holds its value well, making it a reliable safe-haven. It's traded constantly based on the intra-day spot rate. Improve your technical analysis of live gold prices with the real-time XAU/USD chart, and read our latest gold news, expert analysis and gold price forecast.