Gold Price (XAU/USD) cheers a pullback in the US Dollar, as well as mixed the market’s consolidation ahead of the top-tier US data/events to portray a
Mixed data from China, PBoC rate cut also allows the XAU/USD to lick its wounds.US Retail Sales, FOMC Minutes eyed for clear directions, risk catalysts eyed as well. cheers a pullback in the US Dollar, as well as mixed the market’s consolidation ahead of the top-tier US data/events to portray a corrective bounce off a five-week low.
Also keeping the XAU/USD bears hopeful is the quote’s clear downside break of the $1,918 support encompassing Pivot Point one-month S1, previous daily high and 100-HMA. With this, the Gold Price appears well set to drop toward the previous monthly low of around $1,901 encompassing the Pivot Point one-week S1 and one-day S1, as well as the lower band of the Bollinger on the one-day.
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