Gold is on the defensive, possibly due to gains in the greenback. The metal may suffer deeper losses below key rising trendline support. China trade data could influence the dollar index and gold. Gold is flashing red in Asia, possibly due to gains in the US dollar – gold’s biggest nemesis. At press time, the yellow metal is trading at $1,225 – down 0.25 percent on the day – and the dollar index (DXY) is reporting a 0.20 percent gain at 96.19. Prices clocked a high of $1,236 yesterday as the greenback was offered in response to Democratic House. The equities, however, remained bid, helping the US dollar regain some poise. The combination of a recovery in the USD and risk-on action in the stocks likely pushed the metal back below $1,230. Looking ahead, the trendline sloping upwards from the Oct. 9 low and Oct. 31 low could be breached if the China trade data, due in a few minutes, prints below-forecasts, pushing the DXY higher. Gold Technical Levels XAU/USD Overview:     Last Price:  1224.44     Daily change:  -1.6e+2  pips     Daily change:  -0.133%     Daily Open:  1226.07 Trends:     Daily SMA20:  1227.93     Daily SMA50:  1212.41     Daily SMA100:  1207.17     Daily SMA200:  1244.95 Levels:     Daily High:  1236.6     Daily Low:  1222.7     Weekly High:  1237.6     Weekly Low:  1211.8     Monthly High:  1243.43     Monthly Low:  1182.54     Daily Fibonacci 38.2%:  1228.01     Daily Fibonacci 61.8%:  1231.29     Daily Pivot Point S1:  1220.31     Daily Pivot Point S2:  1214.56     Daily Pivot Point S3:  1206.41     Daily Pivot Point R1:  1234.21     Daily Pivot Point R2:  1242.36     Daily Pivot Point R3:  1248.11  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 Japan’s MOF data: Japanese investors buying in US bonds hits 2-year high in September FX Street 4 years Gold is on the defensive, possibly due to gains in the greenback. The metal may suffer deeper losses below key rising trendline support. China trade data could influence the dollar index and gold. Gold is flashing red in Asia, possibly due to gains in the US dollar - gold's biggest nemesis. At press time, the yellow metal is trading at $1,225 - down 0.25 percent on the day - and the dollar index (DXY) is reporting a 0.20 percent gain at 96.19. Prices clocked a high of $1,236 yesterday as the greenback was offered in response to Democratic House. The… 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.
