Gold Price Forecast: 200-HMA pokes XAU/USD sellers, central banks, US Retail Sales eyed – by anilpanchal7 Gold XAUUSD RiskAppetite CentralBanks Commodities
could be linked to the technical correction, as well as the market’s cautious mood ahead of the multiple central bank announcements.
It should be noted, however, that the recent anxiety ahead of the monetary policy decisions from the Swiss National Bank , European Central Bank and the seemed to have triggered the market’s consolidation. Additionally important is the US Retail Sales for November, expected -0.1% MoM versus 1.3% prior.
To sum up, the Gold price remains pressured ahead of the key central bank announcements despite the latest recovery moves.Gold price pares intraday losses while bouncing off the 200-Hourly Moving Average , currently around $1,790. The recovery moves also take clues from the oversold RSI conditions to tease the buyers.bulls. Among them, a two-week-old horizontal resistance area near $1,805 gains the attention of intraday buyers.
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