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    Gold Price Analysis: Bears testing bullish commitments at 200 dma

    WikiFX   |   1610689656000
    Abstract：XAU/USD's recovery at odds with the US dollar's daily chart, the price of gold remains anchored.

    　　XAU/USD's recovery at odds with the US dollar's daily chart, the price of gold remains anchored.

    　　Rising rates continue to place a wet towel on gold markets with spot gold now flirting with a break below the 200-DMA.

    　　Complacent positioning in gold is being shaken-up by a rise in rates, and with positioning still stretched, the aggressive rise in Treasury rates is placing continued pressure on the consensus-long gold market, which could still threaten a deeper positioning squeeze.

    　　The US dollar has also benefitted from expectations of a continued economic recovery in the United States.

    XAU_USD.png

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