Gold Price News and Forecast: XAU/USD surrenders a major part of intraday gains, up little around $1840
|Gold: The uptrend may be expected to continue, while market is trading above support level 1877
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 1877, which will be followed by reaching resistance level 1863.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 1827, which will be followed by moving down to support level 1802.4. Read more...
Gold Price Analysis: XAU/USD surrenders a major part of intraday gains, up little around $1840
Gold maintained its bid tone through the mid-European session, albeit seemed struggling to capitalize on the intraday positive move. The commodity was last seen trading around the $1840 region, well within the striking distance of session lows.
The precious metal built on the previous day's goodish recovery move from the vicinity of the $1800 mark and gained traction for the second consecutive session on Tuesday. The uptick was exclusively sponsored by the emergence of some selling around the US dollar, which tends to underpin demand for the dollar-denominated commodity. Read more...
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