Gold price forecast on August 30 BUY AT: 1926 SL: 1919 City: 1931-1936 Gold (XAU/USD) prices remained steady at three-week highs despite surging towards $1,937-38 during the early Asian hours of Wednesday. In doing so, the precious metal cheered the broad US Dollar weakness ahead of key US data. Also, US Treasury yields are falling and hopes for more stimulus from China also benefit XAU/USD. However, recent headlines surrounding the US-China relationship and the cautious stance of the International Monetary Fund (IMF) on the future allocation of Special Drawing Rights (SDRs) seem to have given a boost. . Gold buyers ahead of US tier two stats. Gold price technical analysis Gold price justifies a sustainable trade beyond the $1,910 support confluence, as well as an uptrend break of the 50-day Simple Moving Average (DMA), while pleasing buyers in the region. this level. highest in three weeks. Adding strength to the XAU/USD uptrend are bullish signals from the Moving Averages Convergence and Divergence (MACD) and the more solid Relative Strength Index (RSI), set at 14, not too buy. However, a daily close above the aforementioned $1,945 resistance will allow Gold buyers to aim for the previous monthly high of around $1,987 before challenging $2,000. Conversely, a 50-DMA near $1,930 limits XAU/USD's immediate downside ahead of a $1,910 support confluence that includes the 200-DMA and 61.8% Fibonacci retracement level, also known as the Color Ratio. Yellow. If Gold remains weak above $1,910, the $1,900 round figure and monthly low around $1,885 will test the downside before highlighting the horizontal support zone consisting of multiple levels marked in February and early March, close to 1,858–61 USD.