Gold retreats from two-week tops amid receding demand for traditional safe-haven assets.
The USD remains well supported near 4-1/2 month tops and collaborates to the weaker tone.
Gold edged lower on the first day of a new trading week and for now, seems to have snapped two consecutive days of winning streak.
The precious metal failed to capitalize on its recent...
The Fibonacci retracement at 1,586 is the immediate resistance.Beyond this last, this year high at 1,611.33 is the next bullish target. Supports come at 1,560.00 and 1,547.40. The metal could turn bearish on a break below this last
Gold is sitting at $1565.75 while the context for the yellow metal is a market where traders are holding long, but not large positions, according to strategists at TD Securities.
“Gold is a crowded trade. The bull market narrative is widely acknowledged, which translates to an above-average number of traders holding a long position, although the...