XAU/USD Trades In Consolidation

Gold consolidates its gains as the US dollar index stays subdued at the start of the week.

The rally gained momentum after it broke above the daily resistance at 1855. The latest sideways action has enabled the RSI to retreat into the neutrality area. This may attract more buyers without raising concerns of overextension.


A bullish close above 1890 could swiftly lift resistance at 1900 and resume the rally to 1917. On the downside, 1853 is the closest support if the price action requires more bids.



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