Gold Price News and Forecast: XAU/USD bulls holding firm within familar bullish territory
|Gold Price Analysis: XAU/USD recovers from lows as US yields drop
Spot gold (XAU/USD) prices saw some selling pressure in the early part of Monday’s session, dropping all the way from the $1740s to under $1730. The selling pressure appeared to come from technical factors, amid an even larger sell-off in silver markets as the latter broke below key areas of support. But over the past few hours, gold has recovered from lows and currently trades in close to $1740 again. The precious metal closed Monday trade with only modest losses of about 0.4% or just over $6, much better than the north of 1.0% losses the precious metal was facing when at lows earlier in the session.
Gold Price Analysis: Bulls holding firm within familar bullish territory
Despite the weaker footing that risk sentiment had started on, US stocks are firm and the US dollar remains mixed against the G10, pressured in New York trade on Monday.
Consequently, gold prices are a touch bid on the session albeit down some 0.35% on the day. At the time of writing, XAU/USD is trading at $1,739, recovering from a low of $1,727.34 but below the high of the day, $1.747.04.
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