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Gold Price Forecast: XAU/USD is looking for direction right below $4,100
Gold’s (XAU/USD) reversal from monthly highs near $4,250 hit last week has been contained above $4,040, but the precious metal is trading sideways on Monday with upside attempts capped below the $4,100 so far. Investors are looking from the sidelines, awaiting the release of delayed US macroeconomic data. Precious metals are wavering, with choppy trading prevailing during the Asian and European sessions. Recent comments from Fed officials have been tilted to the hawkish side, providing some support to the US Dollar, but traders are reluctant to place directional bets, awaiting a backlog of US macroeconomic figures ... (full story)
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