Gold Price Analysis: XAU/USD upside attempts fails right below $1,900

Gold recovery remains limited below $1,900 area.

XAU/USD has been buoyed by USD weakness with risk appetite picking up.

Gold futures have attempted to shrug off the bearish pressure suffered earlier this week to stage a moderate pick up on Thursday and Friday. The yellow metal, however, has been unable to extend its recovery beyond $1,896 in a cautious market atmosphere. Gold, attempting to set a bottom at $1,850

XAU/USD has ticked higher on Friday, following a three-day consolidation period, after a 4.5% sell-off on Monday. News reporting that the COVID-19 vaccine developed by Pfizer was 90% effective boosted appetite for risk at the week’s opening and sent gold futures timbling.Bullion prices dropped to $1,850 later on, where they found support at four-month lows, to consolidate below $1,880/90 during the last three days. Gold remained moving sideways with risk sentiment fading as fears about the economic consequences of the second COVID-19 […]

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.

Posting Guidelines
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!


No comments yet