Gold Price News and Forecast: XAU/USD consolidates the biggest losses in two weeks
Gold Price Analysis: Bears back in the drivers seat, 1:3 R/R setup in place
Gold prices are weaker as the week goes by and have fallen into the bear's liar. The price of gold has moved into bearish territory offering a trade setup scenario. A 1:3 R/R 4-hour swing trade is on the cards, but the price first needs to correct.
Gold Price Analysis: XAU/USD consolidates the biggest losses in two weeks under $1,900
Gold prices stay pressured around $1,877 during the initial Asian trading on Wednesday. The yellow metal dropped the heaviest since late-September as the market’s risk aversion renewed the US dollar strength the previous day.
US President Donald Trump lashed out at the opposition Democratic Party while closing door on the face of the efforts to unveil details of the much-awaited American aid package. Following the Republican leader’s announcement, the House Senior McConnell also joined the league to denounce the Democrats’ push for more.
Author
FXStreet Team
FXStreet
Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.
