Gold Price News and Forecast: XAU/USD further decline toward $1,800 remains on the cards
|Gold Price Analysis: XAU/USD sellers eye $1,800 despite recently mixed clues
Gold prices stays heavy near $1,820, recently dropped to $1,804, during the initial Asian session on Monday. The yellow metal declined heavily on Friday as the market’s risk-off mood favored the US dollar. However, a lack of major updates during the weekend and recently mixed catalysts trouble the yellow metal sellers off-late.
Chatters surrounding the incoming Treasury Secretary Janet Yellen’s likely favor to the market-determined US dollar value and position to be the only official to speak on the greenback recently probed gold sellers.
Gold Weekly Forecast: Further XAU/USD decline toward $1,800 remains on the cards
After losing more than 2% in the previous week, the XAU/USD pair extended its slide on Monday and touched its lowest level since early December at $1,817. However, the pair staged a rebound on Tuesday and fluctuated in a relatively tight range in the remainder of the week before coming under renewed bearish pressure and settling below $1,830 on Friday.
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