Gold Price is retreating from two-week highs of $1,870, as tensions mount in the lead-up to the minutes of the Fed May policy meeting, which is likely to provide fresh hints on the central bank’s tightening path. The broad rebound in the US dollar, despite a cautious market mood, is weighing negatively on the bright metal. Although the latest Fed commentary, which expressed concerns of soft-landing, undermines the US Treasury yields across the curve. This, in turn, helps XAUSUD to find a floor, for now.
Gold Price: Key levels to watch
The Technical Confluences Detector shows that the Gold Price is teasing the $1,855 support area, which is the convergence of the pivot point one-day S1 and the previous low four-hour.