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Gold Price Forecast: XAU/USD consolidates above 1,800, focus shift on US Retail Sales

From fxstreet.com

Gold Price (XAU/USD) displayed an extreme volatility contraction in the New York session on Friday amid a light economic calendar. The bright metal is expected to deliver similar performance and is hovering around $1,813.55, following the footprints of doldrums in the US dollar index (DXY). The DXY witnessed a sheer fall on Friday after printing a fresh 19-year high of 105.00. Investors bent towards some profit-booking measures that dragged the asset lower to 104.50. The asset is consolidating around 104.50 and is seeing more downside on mounting selling pressure. The precious metal has been through a period of high ... (full story)

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  • Category: Technical Analysis