Gold Price News and Forecast: XAU/USD tests April’s recovery below $1,800
|Gold Price Analysis: XAU/USD tests April’s recovery below $1,800 amid a quiet Asian session
Gold holds lower ground around $1,766-67, down 0.08% intraday, amid the initial Asian trading on Monday. The yellow metal posted the heaviest monthly gain of 2021 in April, not to forget snapping a three-month downtrend, despite the latest pullback from the $1,797-98 area. Even so, May begins with the downbeat notion as market players doubt global economic recovery and US stimulus amid a quiet session with off in Japan and China.
Gold sings a “Hot n cold” song
Although spring has begun, we can still find ourselves in winter, or even summer. Gold may benefit from such a seasonal aberration.
Oh, how wonderful, spring has finally started, hasn’t it? We have April, after all. Well, in calendar terms, it’s indeed spring, but economically it can be summer already or still the beginning of winter. How so? I refer here to Kondratiev cycles (also known as Kondratieff cycles or Kondratyev cycles).
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