XAU/USD: Gold Price Attempts to Base as US Dollar Peels Back

From dailyfx.com

Gold prices edged 1% higher to start the week in an attempt to erase steep losses recorded over recent trading sessions. The precious metal has slid by nearly 5% month-to-date, but gold selling pressure seems to have stalled out near its 100-day moving average. Improving trader sentiment on the back of rekindled fiscal stimulus negotiations seems to be weighing negatively on the anti-risk US Dollar, which is likely propelling the advance by XAU/USD price action. Generally speaking, there is a strong inverse relationship between gold prices and the US Dollar. This inverse relationship has strengthened notably this ... (full story)