Gold Price News and Forecast: XAU/USD consolidation continues
|Gold Price Analysis: XAU/USD teases $1,888 hurdle on the way to $1,907 – Confluence Detector
Gold prices remain positive for the second consecutive day, currently up 0.27% intraday to $1,884, during the early Wednesday. The yellow metal recently benefited from the broad US dollar weakness amid uncertainty over the American coronavirus (COVID-19) aid package and first case of the covid variant in Colorado.
Asian markets drift higher
Gold rose 0.25% to $1875.00 an ounce overnight, pushing 0.30% higher to $1884.00 an ounce in Asian trading this morning. It appears that some year-end risk hedging by investors is supporting prices in Asia. Nevertheless, even after the rise today, gold remains content to drift in the middle of its range for the week.
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