Gold (XAU/USD) staged a solid $90 rebound from its brutal sell-off to three-week lows of $1863.20 on Wednesday. The XAU bulls, however, faced stiff resistance near $1950 levels and settled the day around $1936. Overall, dollar weakness keeps the XAU bulls hopeful, with the reversal to be confirmed only above $1960, FXStreet’s Dhwani Mehta briefs. Key quotes “The yellow metal could continue to draw support from additional US stimulus expectations and Fed policymakers’ concerns over the economic recovery. Additionally, the sharp retreat in the US Treasury yields could also bode well for the yieldless gold. Traders await the US jobless claims data, with a likely drop in the claims seen boosting the US stocks at the expense of the greenback. Therefore, the metal could keep its recovery mode intact from three-week lows going forward.” “Gold is struggling to hold onto the 38.2% Fib at $1934 while the 50% Fib lies at $1960. Only a convincing break above the latter will confirm a bullish reversal from three-week lows, opening doors for a test of the $2000 mark.” “While the $1907 NY low could guard the downside attempts, a break below which the critical support at $1863 will get exposed again. That level is the potential rising channel trendline support.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next UK’s Truss: Pleased that the US has not applied additional tariffs FX Street 2 years Gold (XAU/USD) staged a solid $90 rebound from its brutal sell-off to three-week lows of $1863.20 on Wednesday. The XAU bulls, however, faced stiff resistance near $1950 levels and settled the day around $1936. Overall, dollar weakness keeps the XAU bulls hopeful, with the reversal to be confirmed only above $1960, FXStreet’s Dhwani Mehta briefs. Key quotes “The yellow metal could continue to draw support from additional US stimulus expectations and Fed policymakers’ concerns over the economic recovery. Additionally, the sharp retreat in the US Treasury yields could also bode well for the yieldless gold. Traders await the US jobless… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.