Gold prices were easing towards $1,750 amid broader market uncertainty. The document discusses factors influencing gold prices such as stimulus hopes, US debt ceiling talks, China Evergrande concerns, and upcoming US jobs reports. Technical analysis suggests gold has broken above monthly resistance at $1,765 but faces challenges around $1,780 and $1,800 resistance levels in the near-term.

1. Gold Price Forecast:
XAU/USD Eases Towards $1,750
Amid Sour Sentiment

2. Points To BE Discussed Today:
• Gold Picks Up Bids To Refresh
• Gold (XAU/USD) Pares Intraday Gains
• The Gold Dethroning The USD As A Haven
• Gold Technical Analysis
• Gold Four Hour Chart
• Gold Spot / U.S. Dollar & XAUUSD Chart
• Gold Journey And Price Action
• Gold Ranging...And Up Again

3. Gold Picks Up Bids To Refresh
• Gold picks up bids to refresh one-week
high, prints three-day uptrend.
• S&P 500 Futures track Wall Street gains
amid stimulus hopes, softer USD.
• Fed tapering concerning, China headlines
will be the key ahead of the US NFP.

4. Gold (XAU/USD) Pares Intraday Gains
• Gold (XAU/USD) pares intraday gains near a one-
week high during early Monday, up 0.16% on a
day near $1,763 by the press time.
• Fresh fears concerning the US-China trade
relations and the suspension of the Evergrande
shares in Hong Kong probe gold buyers of late.
• On the same line were concerns over the US debt
ceiling talks as the policymakers remain feared
after Democrats had to step back from the voting
on the bill on Thursday.

5. The US 10-year Treasury Yields
• Even so, off in China and US President Joe
Biden’s readiness to “work like hell” for the
stimulus and debt ceiling solution keep buyers
hopeful.
• That said, the US 10-year Treasury yields
remain pressured but the S&P 500 Futures
print mild losses amid challenges over
Evergrande.

6. Gold Traders May Witness A
Lackluster Day
• Given the off in Beijing and indecision over US
stimulus, not to forget cautious mood ahead
of Friday’s US NFP.
• Gold traders may witness a lackluster day
with the US Factory Orders for August,
expected 0.9% versus 0.4%, likely acting as a
second-tier catalyst to watch.

7. Gold (XAU/USD) Stays Firmer
• Gold (XAU/USD) stays firmer around $1,765,
up 0.20% intraday, as bulls conquer a monthly
hurdle during early Monday morning in Asia.
• In doing so, the metal extends the last week’s
rebound amid hopes of stimulus and softer US
dollar ahead of the key Nonfarm Payrolls
(NFP).

8. Gold (XAU/USD) Stays Firmer - I
• While shrugging off the difference inside the
Democratic Party, which led to pulling back
the vote on the infrastructures spending bill
on Thursday.
• US President Joe Biden said, per Reuters, that
he’ll work like hell to get both an
infrastructure bill and a multi-trillion-dollar
social spending bill passed through Congress.

9. The Infrastructure Package
• On the same line, Forbes came out with the
news quoting House Speaker Nancy Pelosi’s
new October 31 deadline for Congress to pass
a $1.2 trillion infrastructure package.
• However, Reuters cites a White House Adviser
while portraying disappointment from
Democrats as Republicans gain external
support to stop the much-awaited stimulus.

10. Bloomberg Came Out With The News
• Furthermore, Bloomberg came out with the
news citing China’s efforts to limit the fallout,
signaling it’s willing to prop up healthy
developers, homeowners and the real estate
market at the expense of global bondholders.
• Elsewhere, the US criticized China’s activity
near Taiwan and is up for conveying the dislike
for Beijing’s lack of performance on the phase
one trade deal

11. The Gold Dethroning The USD As A
Haven
• Amid these plays, S&P 500 Futures rise 0.40%
intraday by the press time while tracking Friday’s
Wall Street gains.
• It’s worth noting that the downbeat US Treasury
yields weighed on the US Dollar Index (DXY) to
underpin the gold buying of late.
• Some on the street also consider the gold
dethroning the USD as a haven but the clarity
over which remains absent as Fed tapering
concerns join geopolitical woes from China and
the covid fears.

12. US Jobs Report
• Moving on, this week’s US jobs report will be important
even though Fed Chair Jerome Powell showed
readiness to accept softer numbers while reiterating
the hawkish bias for Fed tapering.
• However, the policymaker rejected the rate hike
concerns citing the virus-led challenges to
employment.
• Hence, any further weakness in the US jobs report
may extend the latest consolidation in the US dollar
and help the gold buyers looking forward.

13. Gold Technical Analysis
• Gold breaks a monthly resistance line during
the three-day upside but the 100-SMA level
surrounding $1,765 challenges the metal
buyers of late.
• Given the bullish MACD signals and upbeat RSI
conditions, not overbought, gold prices may
remain firmer towards a seven-week-old
horizontal resistance near $1,780.

14. Gold Technical Analysis - I
• Should the quote manages to remain stronger past
$1,780, the $1,806 and the $1,821 levels may probe the
upside momentum targeting the last month’s high near
$1,834, part of the “double top” formation, will be
crucial to watch.
• Meanwhile, pullback moves may drop back below the
previous resistance line near $1,760, targeting 61.8%
Fibonacci retracement of August-September upside close
to $1,743.
• Though, the latest swing low surrounding $1,721 may
challenge the gold bears after $1,743, if not then the
odds of witnessing the sub-$1,700 area can’t be ruled
out.

15. Gold: Four-Hour Chart

16. Gold Spot / U.S. Dollar

17. XAUUSD Chart

18. Gold Journey And Price Action

19. GOLD Ranging...And Up Again

20. THANKS FOR LISTENING
Gold Price Forecast:
XAU/USD Eases Towards $1,750 Amid
Sour Sentiment

21. Gold Price Forecast:
XAU/USD Eases Towards $1,750
Amid Sour Sentiment