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Part 2: What Drives Gold (XAUUSD) Prices?

free commodity xauusd gold spot daily chart tips

free commodity xauusd gold spot daily chart tips

Previous Article:
XAUUSD (Gold Spot) & MCX Gold Will Skyrocket?

What’s Next:
Key levels: 1793.6 and 1783.6
According to my previous newsletter, my gold key levels will remain the same. It’s not sellable until breakout the 1766 (strong support).

In XAUUSD, buying pressures are increasing. We may see 1812 – 1824 – 1836+ levels.

Alternatively, gold is taking a reversal from the first key level, so its upside rally may be weak. But, day traders can play between my range. And stop buying when it breaks the first key level. That could drag down the gold price directly at the second key level (1783.6).

And gold’s closing price below 1783.6 means blast. It may hit the strong support level directly.

Please note, don’t forget to watch significant releases or events mentioned above in the chart that may affect the movement of gold, silver, and crude oil.


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Mr.Dev, has been in the forex and commodity markets since 1997. He’s one of the few non-biased investment advisors to have correctly called the current bull / bear market before it began and to have positioned his clients accordingly. As a result of his accurate forecasts on Indian commodity markets & currency, he is becoming increasingly more renowned. Mr.Dev has been quoted in many of the newspapers. He is a highly recommended technical analyst by many of the local financial newsletters and advisory services. He also is founder of commodity profit sharing service on Moneymunch.

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