I have often mentioned the possibility of profit-taking selling of the XAU/USD (gold) price after its recent strong gains on the impact of the weakness of the US dollar, reaching the resistance level of $2048 an ounce. The price’s inability for two trading sessions to cross helped profit-taking sales in pushing the gold price XAU/USD towards the support level of 1981 dollars an ounce, before settling around the level of 1998 dollars an ounce, at the time of writing the analysis. Gold futures fell, but ended the week's opening trading session above $2,000. The price of the yellow metal has repeatedly failed to surpass ... (full story)