💰 $XAUUSD is starting a new week on the wrong foot this Monday 💵 A renewed upswing in the $USD alongside the US Treasury bond yields amid a mixed market mood is weighing on the Gold price Full forecast ⏩ Forex Commodities
expectations for this year. However, trading conditions are expected to remain thin, as US trading desks could be deserted ahead of the July 4 Independence Day holiday.Technically, Gold price remains exposed to downside risks in the immediate term, as the bright metal confirmed a Bear Cross on Thursday after the downward-sloping 21-Daily Moving Average cut the mildly bullish 100 DMA from above.
On the downside, immediate support awaits at the $1,900 threshold, below which the three-month low of $1,893 will be retested. The next target on Gold sellers’ radars is seen at the descending trendline at $1,890. The next critical resistance is seen at the descending 21 DMA at $1,938, which will be a tough nut to crack for Gold buyers.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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