Gold Price Analysis: XAU/USD struggles to keep $1,800 even as S&P 500 Futures stay positive
Gold prices ease to $1,803 in an attempt to defy the previous two-day downside during Thursday’s Asian session. In doing so, the yellow metal fizzles bounce off $1,783 despite mild gains of the S&P 500 Futures. The bullion seems to have taken clues from the US Treasury yields while stepping back from $1,805.86 off-late.
Gold Price Analysis: Bears about to burst out of their cage to target $1,745.80
Gold is ripening for a short side trade setup given the recent price action. Bears can target a measured target of $1,745.80 once 4-hour conditions confirm the bearish bias.
Further to the prior analysis, Gold Price Analysis: Bears engaging below firm resistance, targetting $1,750, gold has indeed broken below 1800 and reached the $1,790 target, in fact printing a low beyond there at $1,782.50.
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