Gold Price News and Forecast: XAU/USD retreats from two-week tops, slides to $1735 area
|Gold Price Analysis: XAU/USD retreats from two-week tops, slides to $1735 area
Gold edged lower during the Asian session and was last seen hovering near the lower end of its intraday trading range, just above the $1,735 level.
The precious metal struggled to capitalize on the previous day's positive move to two-week tops and started retreating from the $1,745-46 supply zone. The US dollar found some support from a modest uptick in the US Treasury bond yields and for now, seems to have stalled its corrective fall to two-week lows. This, in turn, was seen as a key factor that exerted some pressure on the dollar-denominated commodity.
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