Gold Price Forecast: XAU/USD Looks Primed to Extend Monthly Losses

From dailyfx.com

Gold looks primed to drop in the coming week when looking at its technical posture. XAU/USD recorded a second weekly gain, extending the yellow metal’s winning streak. However, momentum appears to be fading, and prices remain lower on the month. Moreover, a surge in the US Dollar DXY index is certainly providing no favors to the outlook. XAU/USD’s intraday drop earlier this month pinged a downward channel's lower bound. Prices subsequently rallied. Upside energy faded shortly below the psychologically imposing 1800 level, however. The falling 50-day Simple Moving Average (SMA) -- oriented below channel resistance ... (full story)