Gold Price News and Forecast: XAU/USD looks to retest $1,750 as risk dwindles
|Gold Price Analysis: XAU/USD bears in control in Asia
The price of gold is on the backfoot despite a weaker US dollar at the start of this week and the prospects are for a significant correction to the downside. Failures at resistance have so far proven to draw in additional bearish flows and speculative shorts. The bulls are facing a wall of resistance and the price could be drawn to a restest of the prior support and a 61.8% Fibonacci retracement.
Gold Price Analysis: XAU/USD looks to retest $1,750 as risk dwindles
Following its pullback from late February tops, gold holds lower ground near $1,770, choppy between $1,770 and $1,772 amid the initial Asian session on Tuesday. The yellow metal failed to cheer the US dollar’s weakness the previous day as market sentiment worsened during the late North American session.
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