Gold price is consolidating its recovery mode from two-week lows, hovering near $2,350 early Tuesday, as traders look forward to the upcoming speeches from US Federal Reserve (Fed) policymakers.
Gold price consolidates rebound from two-week lows early Tuesday. The Dollar meets fresh supply amid sluggish Treasury bond yields and China-led market optimism. Gold price recovery stalls below rising wedge support-turned resistance but RSI holds above the 50 level. Gold priceis consolidating its recovery mode from two-week lows, hovering near $2,350 early Tuesday, as traders look forward to the upcoming speeches from US Fed eral Reserve policymakers.
On the flip side, Gold sellers need to crack the 50-day SMA support at $2,317 to resume the downtrend. The next cushion is aligned at the $2,300 level, below which the May 3 low of $2,277 will be tested. Gold FAQs Why do people invest in Gold? Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange.
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