Gold consolidates recent losses in a choppy range around $1,730. Market sentiment stays heavy amid mixed signals from Fed, geopolitical tussle. Strong US dollar weigh on the yellow metal, American data, risk-catalysts eyed. Gold remains depressed in a $4.00 trading range, currently down near $1,726, amid the Asian session on Wednesday. The bullion dropped the most in three weeks the previous day as a broad risk-off mood propelled US dollar moves and disappointed commodity buyers. While checking the US dollar strength, the Fedspeak could come forward as the key catalysts as policymakers’ efforts to reject reflation fears and challenges to the easy money couldn’t convince markets. Also on the same line were the tussle between the West and China as well as the extension of the coronavirus (COVID-19)-led lockdowns in Germany and Netherlands. It’s worth mentioning that US President Joe Biden’s vaccine optimism and Treasury Secretary Janet Yellen’s defy tax-hike fears fell short of recalling the yellow metal buyers. Amid these plays, US equities and bond markets pleased bears while the stock futures are waiting for fresh impulse by the press time. Given the heavy economic calendar, comprising multiple activity numbers and Fed Chair Jerome Powell’s second inning in front of Congress, gold prices may remain volatile. It should, however, be noted that the precious metal sellers are likely to keep the reins amid a strong US dollar. Technical analysis Repeated failures to cross 21-day SMA join a clear downside break below the immediate support line to directs gold sellers towards the $1,700 threshold. Meanwhile, a successful rise beyond the previous support and 21-day EMA, respectively around $1,738 and $1,741, will highlight the monthly top around $1,760. Â 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 Silver consolidates and bulls seek upside correction FX Street 1 year Gold consolidates recent losses in a choppy range around $1,730. Market sentiment stays heavy amid mixed signals from Fed, geopolitical tussle. Strong US dollar weigh on the yellow metal, American data, risk-catalysts eyed. Gold remains depressed in a $4.00 trading range, currently down near $1,726, amid the Asian session on Wednesday. The bullion dropped the most in three weeks the previous day as a broad risk-off mood propelled US dollar moves and disappointed commodity buyers. While checking the US dollar strength, the Fedspeak could come forward as the key catalysts as policymakers' efforts to reject reflation fears and challenges to… 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.