Gold Price News and Forecast: XAU/USD not out of the woods yet, slide to $1700 remains on the cards

Gold Futures: Extra downside in the pipeline

Open interest in Gold futures markets rose by nearly 6K contracts on Tuesday according to flash data from CME Group. In the same line, volume reversed two consecutive daily pullbacks and increased by around 60.7K contracts.

Tuesday’s negative price action in Gold prices was on the back of rising open interest and volume, all indicative that further losses remain probable in the very near-term. Against that, the so far 2021 lows in the $1,680 zone per ounce troy emerge as the next support of relevance. Read more...

Gold Price Analysis: XAU/USD not out of the woods yet, slide to $1700 remains on the cards

Gold struggled to capitalize on the Asian session bounce from weekly lows and was last seen trading with only modest gains, around the $1730 region.

The prevalent risk-off mood extended some support to the safe-haven XAU/USD. This, along with some follow-through slide in the US Treasury bond yields, further benefitted the non-yielding yellow metal. However, the underlying bullish sentiment around the US dollar capped any meaningful upside for the dollar-denominated commodity. Read more...

Gold Price Analysis: XAU/USD struggles for direction, stuck in a range around $1730 area

Gold held on to its modest intraday gains through the mid-European session, albeit lacked any follow-through buying. The commodity was last seen trading near the $1730 region, up 0.20% for the day.

Following an early dip to weekly lows, the precious metal managed to regain some positive traction and recovered a part of the previous day's losses. The early uptick was supported by the ongoing decline in the US Treasury bond yields, which tends to benefit the non-yielding yellow metal. Read more...