Gold Price News and Forecast: XAU/USD is seeing consolidative trade on Wednesday
|Gold looks to extend gains above 1865
After last week's crash in Gold prices (-7.35% move) prices have stabilized around the 1820 level which is a massive level of support.
The DXY has rejected the previous highs arounf the 97.70 and Gold is retesting the previous lows printing a flat triangle showing strength at these levels.
Gold consolidating above $1850 at tip of ascending triangle
It has broadly been a day of consolidation for spot gold prices (XAU/USD). The yellow metal trades with modest gains of just under $4 on the day or about 0.2% and sits currently sits just to the south of the $1860 mark, having twice rebounded from tests of the $1850 mark to the downside this session.
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