Gold Price Forecast: XAU/USD eyes worst week in four months below $1,950 as Ukraine woes intensify

Gold Price Forecast: XAU/USD eyes worst week in four months below $1,950 as Ukraine woes intensify By anilpanchal7 Gold XAUUSD Ukraine China Commodities

in Europe. In doing so, the yellow metal snaps the two-day recovery moves from the lowest level in a month.

weakness could be the cautious mood ahead of today’s call between US President Joe Biden and his Chinese counterpart Xi Jinping. snaps a three-day downtrend while defending 98.00 level of late. Even so, the greenback gauge stays negative on a weekly basis.

Gold prices take a U-turn from the 10-day EMA, amid bearish MACD signals and descending RSI line, to keep sellers hopeful. That said, the $1,900 threshold and the latest swing low of $1,895 can restrict immediate declines of the metal.

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