The key levels for gold in the upcoming days

The key levels for gold in the upcoming days

2019-11-11 • Updated

Last week was very promising for the gold bulls as the price managed to recover after the significant fall towards $1,200 on November 12. The price for 1 ounce stuck above $1,214 on Friday. What are the reasons behind this rise and where the gold is heading during this week?

The US Dollar suffered losses after the Fed raised concerns about a global economic slowdown.  The potential slowdown might mean the tightening policy of rate hikes will be impossible in the current economic conditions. Moreover, the Fed has a neutral outlook beyond 2018, which will attract gold buyers interested in the safe-haven asset.

In addition, the tensions between the US and China, which increased during the APEC negotiations, added uncertainties to the market. US vice president Mike Pence warned APEC nations against taking Chinese loans. At the same time, Chinese president Xi expressed his negative opinion on US tariffs. The disagreement on WTO reforms led countries to failure on reaching a consensus on the final statement after two days of speaking. This situation also generated the capital inflows into the yellow metal.

As there are no major market-moving economic releases this week from the US, the direction of the price for the safe haven asset depends a lot on the market sentiment.

On Tuesday, the huge sell-off across the equity markets resulted in the capital outflow from the shares. S&P 500 fell by 0,78%, while tech-heavy Nasdaq declined by more than 3%  due to the slowdown in consumer sales and regulation fears.

 If the risk-off sentiment across the equity market continues to escalate, the price for gold will rise.

Let’s look at the technical levels of the US Dollar and gold.


The US 10-year treasury yields keep sliding. It fell by 0.29% on Monday. That is why the risks of the US Dollar index to test the support at 95.85 increase and, therefore, can help XAU/USD to rise towards the resistance at $1,232. If this strong level is broken, the gold price can test the next resistance at $1,243.  However, the strong USD can move the US Dollar index upwards to the resistance at 96.70. In that situation, the price for yellow metal will likely go down. If the support at $1,214 is crossed, the next important level lies at $1,185.


To conclude with, it is highly important to follow the situation in the equity market and the price of the US Dollar index to trade gold in the most successful way during this week.


What will move the market on September 6-10?
What will move the market on September 6-10?

Last Friday’s NFP was disappointing. The reaction of the markets was astonishing. Will it last longer? Let's find out the main trade opportunities for the upcoming week.

What will move the market on August 23-27?
What will move the market on August 23-27?

After an extremely volatile week in the markets, traders await the next steps of the USD and stocks. What drivers will move the assets next week? Lets’ find out!

Latest news


How to understand if an economy is accelerating or decelerating? What are the indicators that can guide us in this interpretation? One of the ways in which we can assess this situation is precisely the household consumption, which fundamentally refers to…


Credit cycles (or leverage cycles) represent moments in the economy of a country when families and companies get indebted, in order to invest or to spend in different segments, which ends up positively influencing the level of the general economic…

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera