Gold Price News and Forecast: XAU/USD fades recovery moves from $1,858.43
|Gold Price Analysis: XAU/USD bulls catch a breather above $1,850 amid virus woes
Following its failure to please the bulls, Gold eases to $1,869.70 during the initial Asian session on Friday. The yellow metal refreshed two-week top the previous day on stimulus hopes but the coronavirus (COVID-19) and downbeat data from the US, not to forget upbeat ECB, probes the bulls afterward.
Gold Price Analysis: XAU/USD edges back from two-week highs but 50DMA acts as support
Spot gold prices have dropped back from fresh near-two week highs set at $1875 during the early European session, though have found support in the $1860s above the 50-day moving average which currently resides at $1860. At present, XAU/USD trades around 0.4% or just under $7 lower on the day.
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