Gold Price Forecast: XAU/USD to suffer more declines on a break below $1,800 Gold XAUUSD GDP
“Bears take a breather in the aftermath of thedecision while waiting for the US advance Q4 GDP and Durable goods data. The US economy is likely to have regained steam in Q4, 2021, as the growth is seen at the best level in 37 years, arriving at 5.4% YoY. Meanwhile, easing geopolitical tensions around Ukraine, weigh negatively on the traditional safe-haven gold.”
“A sustained break below $1,810, which is the January 19 lows, is needed to test the critical support near $1,805, where the 200-Daily Moving Average and the 50-DMA coincide, having confirmed a death cross earlier this week. That level also brings in the wedge support line.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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