Gold Price Analysis: XAU/USD stays depressed around five-week bottom above $1,850
Gold prices drop to $1, 866.36 amid the initial Asian session trading on Friday. The bullion dropped to the fresh low since September 28 on Thursday as the King dollar benefited from the upbeat US data and risk-off mood. However, a lack of major catalysts after the US session pushed the metal traders to look for extra hints before stretching the two-day downtrend towards challenging the monthly low of $1,860.
Gold Price Analysis: XAU/USD attempting to bounce up from one-month lows at $1860
Gold futures are attempting to bounce up after having depreciated more than 2% over the last two days. The yellow metal has picked up after hitting one-month lows at $1,860 although the upside moves are finding sellers at the $1,875 region.
XAU/USD’s bearish reversal from mid-October highs above $1,930 accelerated on Wednesday after breaking below the bottom of the last week's trading rage, at $1,890 area.
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