Gold Price Forecast: XAU/USD jumps to test October highs around $1810

November 7, 2021

Metals are rising considerably boosted by lower US yields on Friday. Gold broke above $1800 and is testing a key short-term resistance area around $1810. A firm break higher could trigger more gains.

Gold peaked at $1812, the highest in two weeks. It is trading around $1810 and a firm break above would put the price at the highest in almost two months, targeting the next resistance at $1820.

A failure to break above $1810 would leave gold vulnerable to a bearish correction. Support levels are located at $1795, $1785 and then $1770.

 

XAU/USD jumps to test October highs around $1810
Metals are rising considerably boosted by lower US yields on Friday. Gold broke above $1800 and is testing a key short-term resistance area around $1810. A firm break higher could trigger more gains. pic.twitter.com/oExTXnWfV3

— 360ForexSignals.com (@petromenea) November 7, 2021