XAU/USD printed a new eight-year high at $1818/oz. Metal holds firm onto recent gains, firm above $1800. The yellow metal rose further and reached the highest level since 2011 at $1818/oz after the beginning of the American session. It then moved off highs, finding support at $1808. As of writing, it is hovering around $1810, up $15 for the day. XAU/USD is about to post the strongest close since September 2011 as the demand for the metal prevails on a scenario dominated by ultra-easy monetary policy across the world. On Wednesday, the last leg higher in gold took place amid a decline of the greenback across the board. The US dollar printed fresh lows pushing the DXY back below 96.50. Not even a modest rise in US yields offset gold’s strength, neither helped the dollar. The rally in gold continues to look firm. On the upside, the next resistance levels might be seen at $1825, followed by $1840. On the flip side, under $1808, the $1797 area is now seen at the immediate support and then $1788. More levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next KuCoin Shares Technical Analysis: KCS/USD recovers from a 42% flash crash and gets closer to $1 again FX Street 3 years XAU/USD printed a new eight-year high at $1818/oz. Metal holds firm onto recent gains, firm above $1800. The yellow metal rose further and reached the highest level since 2011 at $1818/oz after the beginning of the American session. It then moved off highs, finding support at $1808. As of writing, it is hovering around $1810, up $15 for the day. XAU/USD is about to post the strongest close since September 2011 as the demand for the metal prevails on a scenario dominated by ultra-easy monetary policy across the world. On Wednesday, the last leg higher in gold took place amid… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
