Gold Price News and Forecast: XAU/USD bulls catch a breather below $1,900
|Gold Price Analysis: XAU/USD bulls catch a breather below $1,900
Gold traders are waiting for extra directions to extend the biggest recovery move in a month. In doing so, the yellow metal fades the previous day’s upside momentum near $1,880 amid the pre-Tokyo open Asian trading on Tuesday.
Given the commodity buyers’ pause, coupled with a lack of major data/event ahead of the key US Presidential Election debate, concerns over the short-term strength of the safe-haven metal can’t be ruled out.
Gold: There is still little sign of recovery
The corrective run on gold may have lost some of its momentum in recent sessions, but moving into the European session on Monday, as yet there is still little sign of recovery. The move lower continues to trade around what we see as a tentative uptrend of the past six months (which sits around $1858 today).However, this comes as gold closed below $1863 on Friday (the old August spike low) and continues to tick lower early today.
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