Gold Price Analysis: XAU/USD softer, challenges the $1,850 mark
- The precious metal flirts with the key support in the $1,850 area.
- A better sentiment in the dollar weighs on gold.

The yellow metal extends the weekly leg lower and navigates at shouting distance from the key support area near $1,850 per ounce troy.
The better note around the greenback puts the metal under pressure and forces it to grind lower for the fourth consecutive session on Thursday in spite of the corrective downside in yields of the US 10-year reference.
The dollar manages to regain the smile after recent bearish sessions and despite the US calendar showed Initial Claims rising by 742K WoW and the Philly Fed index easing to 26.3 in November (from 32.2). The reading, however, came in above estimates.
Gold key levels
As of writing Gold is retreating 0.65% at $1,859.87 and faces the next support at $1,850.62 (monthly low Nov.9) seconded by $1,848.66 (monthly low Sep.26) and then $1,792.53 (200-day SMA). On the upside, a surpass of $1,899.05 (weekly high Nov.16) would expose $1,933.28 (monthly high Oct.12) and finally $1965,55 (monthly high Nov.9).
Author

Pablo Piovano
FXStreet
Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

















