Gold Price News and Forecast: XAU/USD loses bullish momentum ahead of next week's key events
|Gold Price Analysis: XAU/USD stays pressured below $1,850 amid risk-on mood
Gold drops to $1,837.50, down 0.12% intraday, during Monday’s Asian trading. In doing so, the yellow metal keeps the downside momentum portrayed at the week’s start while following the risk-positive headlines. However, bears are also cautious amid the coronavirus (COVID-19) woes and a lack of clarity over the key issues.
Gold Weekly Forecast: XAU/USD loses bullish momentum ahead of next week's key events
The XAU/USD pair built on previous week’s gains and touched its highest level in two weeks at $1,875.79 on Tuesday. In addition to the technical buying pressure that gathered momentum after the pair closed above the 20- day SMA back in early December, the USD’s poor performance fueled the rally. However, XAU/USD lost its traction in the second half of the week and erased the majority of its weekly gains before settling below $1,850.
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