Gold futures market suffered for another week as the US dollar gained. XAU/USD might revisit $1,800 if the short term support at $1,820 fails to hold in the coming week. Gold experienced intense selling pressure in the concluded trading week. The precious metal was not able to pick up momentum following the consistent growth of the US dollar. Attempts to recover failed multiple times for the dollar-dominated asset. Meanwhile, the strongest currency in the world posted gains for the second week in a row. The 4-hour chart also shows XAU/USD upside was limited by the 200 Simple Moving Average around $1,860. As selling activities surged, gold explored price levels toward $1,820. However, it closed the week at $1,825 amid a build-up of bearish pressure. If technical levels remain the same on Monday, XAU/USD is likely to break under short term support at $1,820. The pessimistic outlook seems to have been validated by the Relative Strength Index. Moreover, sliding into the oversold region may continue to dampen recovery attempts and perhaps pave the way for losses eyeing $1,800. XAU/USD 4-hour chart It is worth taking note of the possibility for recovery if gold holds above $1,820. The reversal that comes into the picture could speed up price action toward $1,860. Gold futures market will benefit significantly if the US dollar loses some of the gains accrued over the last two weeks. The expected Biden-stimulus for the United States citizens could also push inflation high, increasing demand for the precious metal. 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 USD/CAD Forecast Jan. 18-22 2021 – BoC, inflation in focus Kenny Fisher 2 years Gold futures market suffered for another week as the US dollar gained. XAU/USD might revisit $1,800 if the short term support at $1,820 fails to hold in the coming week. Gold experienced intense selling pressure in the concluded trading week. The precious metal was not able to pick up momentum following the consistent growth of the US dollar. Attempts to recover failed multiple times for the dollar-dominated asset. Meanwhile, the strongest currency in the world posted gains for the second week in a row. The 4-hour chart also shows XAU/USD upside was limited by the 200 Simple Moving Average around… 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.