Gold Price Forecast: XAU/USD clings to gains just above $2,000 amid weaker US Dollar – by hareshmenghani Gold Commodities Fed Inflation XAUUSD
. The XAU/USD sticks to its intraday gains through the first half of the European session and is currently placed just above the $2,000 psychological mark, near the top end of the daily trading range.The US Dollar meets with some supply and stalls a four-day-old recovery trend from over a two-month low touched last week amid some repositioning trade ahead of the latest consumer inflation figures from the on Wednesday.
On the flip side, the $1,990-$1,980 zone now seems to have emerged as an immediate strong support. A convincing break below should pave the way for a slide towards the $1,955-$1,950 region before the eventually drops to the next relevant support near the $1,935-$1,934 area. The corrective decline could get extended further towards the $1,918-$1,917 horizontal zone en route to the $1,900 round-figure mark.
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