Gold Price News and Forecast: XAU/USD correction on the cards towards $1,830

FXStreet Team FXStreet

Gold Price Analysis: XAU/USD stays en route $1,777 on NFP day – Confluence Detector

Gold consolidates the heaviest losses in over a month around $1,795 during early Friday. The yellow metal dropped to a nine-week low the previous day before recovering from $1,785. While the broad US dollar gains remain on the table, which has been weighing on gold prices off-late, the pre-NFP trading lull seems to challenge the commodity trading by press time.

Gold Price Analysis: XAU/USD correction on the cards towards $1,830

Gold is under pressure as the US dollar catches a bid in a risk-on environment ahead of this week's Nonfarm Payrolls even on Friday. However, there is scope for an upside correction and the following illustrates where the next trading opportunity could arise leading into the event. Gold is on the way to test the bull's commitments at monthly support.

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