Gold Price Analysis: XAU/USD’s reversal from $1,914 contained at $1,895 support area

Gold recover attempt was capped at $1,914 to test support at $1,895 again.

XAU/USD lost ground with the US dollar picking up.

Uncertainty about US stimulus has boosted risk aversion.

Gold’s upside attempt witnessed during the Asian and European trading sessions has been halted at $1,914 on the Early US session as market sentiment plunged and the precious metal has dropped to find support at $1,895. XAU/USD loses footing with the USD coming up Gold futures have dropped nearly $20 from session highs, with equity markets moving into negative territory after having opened with moderate gains. The Dow Jones Index is trading 0.6% lower with the Nasdaq 0.4% below the previous closing. Risk appetite has taken a hit during Friday’s North American session, as the investors grew increasingly anxious about the lack of progress in the US coronavirus stimulus negotiations. This has boosted demand for the […]

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