fxstreet.com 12 Feb, 2021 10:00 am

XAU/USD’s path of least resistance appears down

XAU/USD’s path of least resistance appears down
Gold (XAU/USD) remains under pressure while below the $1850 level, with the $1800 support back in sight amid a lack of new developments on the US fisc

Gold Price Analysis: XAU/USD eyes key $1803 support amid US dollar strength – Confluence Detector Gold (XAU/USD) remains under pressure while below the $1850 level, with the $1800 support back in sight amid a lack of new developments on the US fiscal stimulus.Gold Price Forecast: XAU/USD’s path of least resistance appears down Gold (XAU/USD) extends its downward spiral into the second straight day on Friday, although remains on track to book a weekly gain.FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.It also does not guarantee that this information is of a timely nature.

strong Markets are resorting to taking profits off the table on their US dollar short positions after the recent slide while gold’s rejection above the $1850 level also warrant caution for the bullish buyers.The rebound in the US Treasury yields and surge in the platinum group metals (PGM) further weigh on gold prices.

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