Gold Price Forecast: Bund yields drag XAU/EUR below €1,600 ahead of German Inflation data By anilpanchal7 Gold Europe Coronavirus YieldCurve Commodities
Gold prices remain pressured inside a three-week-old rising wedge bearish chart formation. Although descending RSI and bearish MACD signals keep sellers hopeful, the 100-SMA adds strength to the support line of wedge near €1,593.
During the fall, €1,580 may act as an intermediate halt while July 2021 top surrounding €1,550 will add to the downside filters past €1,555.retracement of November-December downside around €1,605 guards immediate recovery moves of the gold prices . If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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