Read more
7:53 AM · 7 May 2021

Chart of the day - GOLD (07.05.2021)

-
-
Open account Download free app

After three weeks of struggle, gold has managed to deliver a strong upward move yesterday and jump above the $1,800 mark. Upward move is being continued today and the precious metal tests the $1,820 handle - the highest level since February 16, 2021. US dollar weakness and recent drop in US yields are main drivers behind the break above $1,800. Today's key event - US NFP report for April at 1:30 pm BST - is likely to trigger a jump in volatility on USD and gold market.

Taking a look at GOLD from a technical point of view, we can see that the price of the precious metal is approaching the upper limit of the downward channel. This is a key short-term hurdle for gold bulls. The two next resistance levels to watch should the upward move continue can be found at $1,850 and $1,875. The former is marked with the 200-session moving average (purple line) while the latter is marked with the upper limit of the Overbalance structure.

Source: xStation5

11 February 2026, 6:28 PM

Daily Summary - Powerful NFP report could delay Fed rate cuts

11 February 2026, 3:33 PM

BREAKING: Massive increase in US oil reserves!

11 February 2026, 1:15 PM

Market wrap: Oil gains amid US - Iran tensions 📈 European indices muted before US NFP report

11 February 2026, 12:29 PM

📈 Gold jumps 1.5% ahead of NFP, hitting its highest level since Jan. 30

Join over 2 000 000 XTB Group Clients from around the world
The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits