Gold Price Analysis: XAU/USD trades with modest losses just below $1,740 level
Gold edged lower during the Asian session and was last seen hovering near the lower boundary of its intraday trading range, just below the $1,740 level.
The precious metal failed to capitalize on Friday's bounce from the $1,730 support zone, instead met with some fresh supply on the first day of a new trading week. This marked the second consecutive day of a negative move and was exclusively sponsored by a modest pickup in the US dollar demand, which tends to weigh on the dollar-denominated commodity.
Gold XAU/USD Analysis Elliott Wave - FXStreet [Video]
Overview: Tracking two Elliott Wave counts that can change the direction of the current trend
Elliott Wave Gold: Wave i) or Wave (c) of iv) in progress
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