Gold (XAU/USD) extended the bounce from six-week lows on Tuesday, finishing the day with moderate gains well above the $1850 level. On Wednesday, the yellow metal gathers pace to test the $1872 hurdle ahead of US CPI, FXStreet’s Dhwani Mehta reports. See – Gold Price Analysis: XAU/USD to gun towards $2,000 over 2021 – TDS Key quotes “Gold looks to build onto Tuesday’s rebound on Wednesday, with all eyes awaiting the US CPI report and the House vote on Trump’s removal from the Office after the deadly Capitol Hill attack. The greenback and the US rates continue their overnight weakness, which is likely to keep gold buoyed.” “The US stimulus optimism and surging coronavirus cases in the US, Japan and China also boosts gold’s safe-haven appeal. However, the bounce in the global stocks amid a surge in oil prices and stimulus hopes could probably cap the gains in the precious metal. Markets will also pay close attention to the Fedspeak amid recent tapering talks.” “Gold price is struggling to clear the critical horizontal resistance seen at $1863. Acceptance above that level could validate the bullish pattern, calling for a test of the bearish 100-hourly moving average (HMA) at $1872. Buyers could then aim for the 200-HMA at $1899.” “The 21-HMA at $1854 offers immediate support, below which the 50-HMA at $1850 could guard the downside. The pattern support at $1841 is likely to be tested if the selling pressure intensifies.” 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 Polkadot nurtures a 15% breakout while this crucial barrier must come down FX Street 2 years Gold (XAU/USD) extended the bounce from six-week lows on Tuesday, finishing the day with moderate gains well above the $1850 level. On Wednesday, the yellow metal gathers pace to test the $1872 hurdle ahead of US CPI, FXStreet’s Dhwani Mehta reports. See – Gold Price Analysis: XAU/USD to gun towards $2,000 over 2021 – TDS Key quotes “Gold looks to build onto Tuesday’s rebound on Wednesday, with all eyes awaiting the US CPI report and the House vote on Trump’s removal from the Office after the deadly Capitol Hill attack. The greenback and the US rates continue their overnight weakness, which is likely… 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.
