Gold (XAU/USD) added to Tuesday’s corrective rally and settled above $1725 on Wednesday. The yellow metal stabilizing at higher levels so far this Thursday as XAU/USD eyes additional upside ahead of US President Biden’s speech, FXStreet’s Dhwani Mehta reports. See – Gold Price Analysis: Rising real yields to trigger a fall to $1670 on XAU/USD – Credit Suisse Key quotes “The bulls seem to gather pace for the next leg higher, despite the firmer risk tone. So long as the greenback remains on the back foot amid risk-on action on the global stocks, gold could likely extend its recovery momentum. Although Biden’s address to the nation, scheduled later on Thursday at 13:00 GMT, could threaten the metal’s rebound from multi-month troughs.” “XAU/USD is looking to test the bearish 100-simple moving average (SMA) at $1749, with the Relative Strength Index (RSI) firmly holding up in the bullish region, currently at 65.20. Further up, some resistance is seen around the $1765 region.” “The horizontal 50-SMA, the previous resistance now support, at $1714 could guard the downside. The next relevant support awaits at the upward-sloping 21-SMA at $1708. The $1700 round number would be the level to beat for the bears.” 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 EUR/USD to test 1.17 as the EU struggles to reinvigorate vaccine rollout – Westpac FX Street 1 year Gold (XAU/USD) added to Tuesday's corrective rally and settled above $1725 on Wednesday. The yellow metal stabilizing at higher levels so far this Thursday as XAU/USD eyes additional upside ahead of US President Biden's speech, FXStreet's Dhwani Mehta reports. See - Gold Price Analysis: Rising real yields to trigger a fall to $1670 on XAU/USD - Credit Suisse Key quotes "The bulls seem to gather pace for the next leg higher, despite the firmer risk tone. So long as the greenback remains on the back foot amid risk-on action on the global stocks, gold could likely extend its recovery momentum.… 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.
