Gold Price News and Forecast: XAU/USD bulls seeking continuation in dollar weakness
|Gold Price Analysis: XAU/USD bulls seeking continuation in dollar weakness
Gold was trading in a tight range on Friday and it had travelled between a low of $1,764.31 to a high of $1,773.74 to end flat on the day following a late afternoon recovery. It is starting out the week in holiday thin markets flat and idles $1,769. A focus for the week ahead is in the short dollar position which also relatively high, so profit-taking ahead of this week's jobs data on Friday could be the theme.
Gold Weekly Forecast: XAU/USD snaps three-week winning streak, looks to test $1,760
The XAU/USD pair failed to break above $1,800 in the previous week and opened in a calm manner on Monday as investors stayed on the sidelines ahead of key macroeconomic events of the week. After fluctuating in a relatively tight range around $1,780, the pair lost its traction on Thursday and dropped to its lowest level in two weeks at $1,756. With the US preserving its strength ahead of the weekend, XAU/USD struggled to stage a convincing rebound and closed the week in the negative territory below $1,770.
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