Gold price has returned to the red in Monday’s Asian trading, snapping two back-to-back days of gains.
Gold price extends pullback as Middle East fears calm down. US Dollar weakens amid upbeat mood, despite rebounding US Treasury bond yields. Gold price targets $2,350 on a sustained break below 50-SMA at $2,370 on the 4H chart. Gold pricehas returned to the red in Monday’s Asian trading, snapping two back-to-back days of gains.
However, Gold sellers need to crack the $2,350 psychological level beforehand. The Relative Strength Index , a leading indicator, has entered the negative territory to hover near 48.00, justifying the bearish potential. On the flip side, Gold price could face the initial hurlde at the 21-SMA at $2,382 on the road to recovery. Further up, the $24,00 round level will be challenged. Acceptance above the latter will fuel a fresh upswing for a test of Friday’s high of $2,418.
XAUUSD Riskappetite Commodities Technical Analysis
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Price Forecast: XAU/USD extends rally above $2,170 amid weaker US Dollar, geopolitical tension risksGold Price (XAU/USD) extends its upside above the mid-$2,150 during the early Asian trading hours on Tuesday.
Read more »
Gold Price Forecast: XAU/USD eyes acceptance above $2,200 amid bullish technicalsGold price is rebounding firmly toward the $2,200 threshold in Monday’s Asian trading so far, as the US Dollar recovery takes a breather amid sluggish US Treasury bond yields and a mixed market mood.
Read more »
Gold Price Forecast: XAU/USD rises above $2,410 after reports of Israeli attack on IranGold price surges to nearly $2,410 per troy ounce during the Asian session on Friday.
Read more »
Gold Price Forecast: XAU/USD remains steady above $2,350 amid market cautionGold price holds ground near $2,380 per troy ounce on Wednesday, hovering close to record highs as traders exercise caution ahead of Israel's response to Iran's air strike on Saturday.
Read more »
Gold Price Forecast: XAU/USD regains poise above $2,350 amid Iran-Israel conflictGold price is back in the green above $2,350 early Monday, having witnessed the long-due correction from record highs of $$2,432 on Friday.
Read more »
Gold Price Forecast: XAU/USD gains momentum above $2,350, investors await US CPI dataGold Price (XAU/USD) extends its upside near $2,355 during the early European trading hours on Wednesday.
Read more »