Gold price (XAU/USD) seesawed between tepid gains/minor losses on Tuesday and consolidated its strong recovery gains from the $1,810 area, or a seven-
Gold price extends its consolidative price move through the Asian session on Wednesday. Reduced bets for more rate hikes by the Fed and geopolitical tensions lend some support. Investors await fresh cues about the Fed’s rate-hike path before placing directional bets. month low touched last week. The precious metal, however, manages to hold above the $1,850 level and extends the sideways price move during the Asian session on Wednesday.
Failure to defend the said support levels might prompt some technical selling and drag the Gold price to the $1,820 support en route to the multi-month low, around the $1,810 zone. A convincing break below the latter will validate a bearish death cross on the daily chart, wherein the 50-day SMA is holding well below the 200-day SMA, and pave the way for a further drop. US Dollar price today The table below shows the percentage change of US Dollar against listed major currencies today.
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