[ad_1]
Gold Price Analysis: XAU/USD recovers from 2.5-month low
Gold trades near $1,782 per ounce at press time, having reached a low of $1,769 – the lowest level since Nov. 30. The hourly chart shows a bullish divergence of the Relative Strength Index, which occurs when an indicator forms higher lows, contradicting lower lows on the price chart. The pattern is widely considered a sign of temporary bear fatigue and often yields a corrective bounce.
Read more …
Gold Price Analysis: XAU/USD nurses losses below $1,800, China’s return, US dollar moves in focus
Gold struggles to overcome the lowest levels in 12 weeks, marked the previous day, with a brief bounce to $1,776 amid the early Asian session on Thursday. In doing so, the yellow metal tries to defy the five-day downtrend but the corrective pullback awaits fresh clues as China hits the floor after one-week holidays. Also challenging the mood could be the US dollar’s latest gains despite the easy move by Wall Street benchmarks and the Treasury yields.
Read more …
