Market news
17.03.2023, 06:58

Gold Price Forecast: XAU/USD looks to take out $1,937 resistance on the renewed upside

Gold price, finally, closed Thursday above the February 3 high of $1,919, yielding the much-needed upside break. More gains in the offing, FXStreet’s Dhwani Mehta reports.

Thursday’s low at $1,908 will be put to test should upside momentum fizzle out

“After a firm break above $1,919, doors now open up for a fresh rally toward the year-to-date high of $1,960. However, Gold bulls will need to clear Wednesday’s high of $1,937 to accelerate the upside.”

“On the downside, Thursday’s low at $1,908 will be put to test should the upside momentum fizzle out. The next cushion is envisioned at the $1,900 threshold, below which Tuesday’s low at $1,895 could challenge bullish commitments. Additional declines will need to crack the weekly low at $1,886.”


© 2000-2023. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at

Live Chat E-mail
Choose your language / location