Gold Price News and Forecast: XAU/USD eyes test of 21DMA in $1840s
|Gold Price Analysis: XAU/USD fades recovery moves below $1,850, awaits fresh clues
Gold eases from the top of an immediate $10 trading range while declining to $1,837 at the start of Tuesday’s Asian session. The yellow metal took a U-turn from the lowest since December 01 the previous day as the US dollar stepped back after refreshing the one-month high. However, holiday in the US markets and a light calendar elsewhere keeps the bullion prices in a tight range ahead of important events.
Gold Price Analysis: XAU/USD eyes test of 21DMA in $1840s
Spot gold prices (XAU/USD) have thus far failed to push convincingly back into the $1840s on Monday, though in fairness the metal is sharply up from Asia Pacific session lows just above $1800; shortly after the reopening of Monday trade in Asia, a mini-flash crash appears to have taken place, offering gold bulls a great opportunity to get long the precious metal as low as $1803. At present, the precious metal trades just below the $1840 mark, up roughly 0.7% or just over $12 on the day, as trade volumes drop off as European traders head for the exit and no US participants on account of US markets being closed for Martin Luthar King Junior Day.
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