Select Language

Gold Price Forecast: XAU/USD gains more than 3%, approaches $2,000

Breaking news

Gold Price Forecast: XAU/USD gains more than 3%, approaches $2,000

  • twitter
  • facebook
  • LINE
  • RSS

  • twitter
  • facebook
  • LINE
  • RSS
New update 2023.03.18 04:31
Gold Price Forecast: XAU/USD gains more than 3%, approaches $2,000

update 2023.03.18 04:31

  • Gold price surged on Friday, extending weekly gains to over $100. 
  • New context of lower yields and banking jitters boost gold's demand. 
  • XAU/USD eye best week in years. 

Gold price moved further to the upside during the American sessions, breaking above $1,980. Late on Friday, XAU/USD stands at $1,982 the highest level since April 2022 and on its way to the third-highest weekly close on record.

From the level it had a week ago, the yellow metal is up by 6.3%. A sharp reversal in Treasury yields is driving the rally in Gold price. Bonds are having the week in years. Financial turmoil weighed on monetary policy expectations and the economic outlook.

Next week the Federal Reserve will announce its decision. A 25 basis point rate hike is expected. A few days ago analysts were asking 25 or 50 after US inflation and employment data. The new scenario includes the odds of a pause at the upcoming meeting. Things have changed dramatically, triggering an impressive rally in XAU/USD. 

Seen Gold price above $2,000 next week looks likely. Even when price moves consistently to the upside, it makes sharp corrections. In the current context, traders should take extra caution. 

Technical levels 


Today last price 1983.23
Today Daily Change 63.72
Today Daily Change % 3.32
Today daily open 1919.51
Daily SMA20 1849.04
Daily SMA50 1877.18
Daily SMA100 1820.71
Daily SMA200 1776.37
Previous Daily High 1933.51
Previous Daily Low 1907.56
Previous Weekly High 1870.09
Previous Weekly Low 1809.46
Previous Monthly High 1959.8
Previous Monthly Low 1804.76
Daily Fibonacci 38.2% 1923.6
Daily Fibonacci 61.8% 1917.47
Daily Pivot Point S1 1906.88
Daily Pivot Point S2 1894.24
Daily Pivot Point S3 1880.93
Daily Pivot Point R1 1932.83
Daily Pivot Point R2 1946.14
Daily Pivot Point R3 1958.78





 : 2023.03.18


Last updated

 : 2023.03.18

Related articles

Show more



Financial media


FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

Breaking: Gold Price Forecast: XAU/USD rallies to over one-year peak, further beyond $2,000 mark

Gold price attracts fresh buying following an early slide to the $1,968 area on Monday and climbs to over a one-year top, beyond the $2.000 psychologi
update2023.03.20 17:20

Gold Price Forecast: XAU/USD gains more than 3%, approaches $2,000

Gold price moved further to the upside during the American sessions, breaking above $1,980. Late on Friday, XAU/USD stands at $1,982 the highest level
update2023.03.18 04:30

Gold Price Forecast: XAU/USD is gathering strength for a sustained break above $2,000

Gold price retreats from 11-month highs before challenging $2,000, FXStreet's Dhwani Mehta reports. Immediate support is seen at the February high of
update2023.03.20 15:58

Gold Price Forecast: XAU/USD rises on persistent banking jitters

Gold price is rising on the back of safe-haven demand as fears around global banking contagion persist. XAU/USD is trading at $2,007 per Troy Ounce at
update2023.03.20 18:33

Gold Price Forecast: XAU/USD refreshes 11-month high near $1,990 as signs of steady flat policy soar

Gold price (XAU/USD) printed a fresh 11-month high at $1,988.33 on Friday. The precious metal is approaching the psychological resistance of $2,000.00
update2023.03.20 07:09

Gold price at $2,000, banking crisis brings ultimate safe haven back

Gold price bulls have been the biggest beneficiaries of the international banking crisis that has taken over the financial markets in the past week. T
update2023.03.20 19:05

Gold Price Forecast: XAU/USD retreats towards $1,960 as yields rebound, Federal Reserve eyed

Gold price (XAU/USD) takes offers from the Year-To-Date (YTD) high while targeting the previous resistance surrounding $1,960, near $1,976 by the pres
update2023.03.20 09:38

GBP/USD sticks to modest gains around 1.2200 mark, just below multi-week high

The GBP/USD pair struggles to capitalize on its modest intraday positive move and trims a part of the early gains to the highest level since February
update2023.03.20 19:20

GBP/USD: Cap around 1.22 suggests downside risk - Scotiabank

GBP/USD is slightly softer. Economists at Scotiabank expect the pair to challenge the 1.2000/05 zone. Cable tracking a slightly softer course on the c
update2023.03.16 20:29

USD/JPY tumbles to test 132.00 as US yields slide

The USD/JPY dropped further as Treasury Bond printed fresh highs, falling to as low as 131.99. The 132.00 area is a critical support for the US Dollar
update2023.03.17 22:38


All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users.Cookie policy

I agree