Gold price is posting small losses below $2,360, pausing a three-day recovery early Wednesday.
Gold price returns to the red early Wednesday, snapping a three-day uptrend. The US Dollar tracks US Treasury bond yields on hawkish Fed speak and geopolitical risks. Gold price recaptures 21-day SMA, RSI stays bullish above the 50 level. Gold priceis posting small losses below $2,360, pausing a three-day recovery early Wednesday. The US Dollar resurgence acts as a headwind for the Gold price, despite heigthening Middle East tensions and a pick up in Indian physical Gold demand.
Gold price technical analysis: Daily chart The short-term technical outlook for Gold price remains more or less the same, as buyers yearn for acceptance above the rising wedge support-turned-resistance, now at $2,372, on a daily closing basis. Gold price maintains its bullish potential, as the 14-day Relative Strength Index , sits above the 50 level, currently trading near 52.60.
XAUUSD Commodities Fed Riskaversion
United States Latest News, United States 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 plummets amid Harmony Gold newsHarmony Gold, the largest gold mining company in SA interrupted blasting operations after a fatal accident.
Read more »
Gold Price Forecast: XAU/USD extends slide below $2,350.00Spot Gold kept falling on Thursday, with XAU/USD trading as low as $2,340.28 at the beginning of the American session.
Read more »
Gold Price Forecast: XAU/USD eyes $2,310 support, as rising wedge remains in playGold price is nursing losses while flirting with two-week lows near $2,327 in the Asian session on Friday.
Read more »
Gold Price Forecast: XAU/USD gains ground above $2,400, eyes on FedspeakGold price (XAU/USD) gathers strength around $2,415 during the early Asian session on Monday.
Read more »
Gold Price Forecast: XAU/USD eyes $2,450 and Fedspeak for a sustained uptrendGold price is off a new lifetime high at $2,441 but looks to extend Friday’s upswing at the start of the week on Monday.
Read more »
Gold Price Forecast: XAU/USD retreated from record highs, maintains the upward biasGold traded at fresh record highs early on Monday, with XAU/USD hitting $2,449.92.
Read more »