Gold Price Forecast: XAU/USD to gather strength and resume the uptrend toward $1,787
|Gold price consolidates gains amid subdued trading on Black Friday. The yellow metal could extend its rise toward the three-month high of $1,787, FXStreet’s Dhwani Mehta reports.
Upside bias remains intact
“Doors remain open toward the three-month high of $1,787 should bulls take out the intraday high at $1,761 and this week’s high near $1,770.”
“The 21 and 100-Daily Moving Average (DMA) bullish crossover remains in play, backing the further upside in Gold price.”
“The 14-day Relative Strength Index (RSI) is trading flat above the midline, keeping bullish traders hopeful.”
“On the downside, the psychological $1,750 level will test the bullish commitments. The next support will be seen at Monday’s low of $1,733.”
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