Gold consolidates recent gains, remains limited by $1950. DXY under pressure drops under 89.50 to test recent lows. Gold rebounded from the $1940 zone to the $1950 area. The yellow metal climbed to $1951 and as of writing, it is hovering slightly below $1950, supported by broad-based dollar weakness. During the American session, gold bounced to the upside but so far it failed to make a run clearly above $1950, even as currency pairs like USD/JPY dropped below Monday’s low. The greenback is under pressure across the board. Better-than-expected economic data did not help the dollar. The ISM Manufacturing index rose in December unexpectedly to the highest level since 2018. On Wednesday, private employment data is due with the ADP report. A key election in Georgia is taking place. The runoff will determine who controls the US Senate. The results could make an impact on markets sentiment. Levels to watch From a technical perspective, XAU/USD holds a bullish tone and is testing the $1950 resistance area. A break higher would expose the next resistance seen at $1970/75. A slide below $1935 would suggest a sharper correction ahead. The $1895/1900 is now a key support (horizontal level and short-term uptrend line) that if broken, could change the short-term bias to neutral/bearish. 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 Ethereum tokens flood exchanges suggesting imminent correction on the horizon FX Street 2 years Gold consolidates recent gains, remains limited by $1950. DXY under pressure drops under 89.50 to test recent lows. Gold rebounded from the $1940 zone to the $1950 area. The yellow metal climbed to $1951 and as of writing, it is hovering slightly below $1950, supported by broad-based dollar weakness. During the American session, gold bounced to the upside but so far it failed to make a run clearly above $1950, even as currency pairs like USD/JPY dropped below Monday’s low. The greenback is under pressure across the board. Better-than-expected economic data did not help the dollar. The ISM Manufacturing index… 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.