Gold Price Forecast: XAU/USD bulls beaten back by the US dollar bulls at key daily resistance
From fxstreet.com
The price of gold is back to flat on the day in what has been a correction of this week's rally into daily resistance near $1,730. The price fell from a high of $1,725.60 to a low of $1,706.95 but held above the prior day's lows despite firmer US yields and a stronger US dollar. Overall, the yellow metal has been more robust of late, making its way back into the $1,700's this week, recovering from last month's lows that were made as US bond yields surged to multi-year highs. The sentiment surrounding the Federal Reserve has been the driver, as fickle as it is. However, with data ebbing and flowing in and out of the ...
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