Gold Price Forecast: XAU/USD eyes $1,950 as the next bearish target – Confluence Detector Gold Ukraine Confluences Commodities RiskAppetite
is keeping the US Treasury yields on a stronger footing, The risk-on flows seem to be weighing down the US dollar, which cushions the downside in gold price. Looking ahead, the Russia-Ukraine war-related updates and risk sentiment will lead the way, in absence of first-tier economic data. Also, the US-Sino high-level talks to discuss Ukraine will be also closely followed.
The additional declines will accentuate the downtrend towards the SMA100 four-hour at $1,944, which will be the line in the sand for gold bulls. The intersection of the previous month’s high and Fibonacci 38.2% one-month at $1,975 will be a tough nut to crack for gold buyers on the road to recovery. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
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