Gold Recovery Continues, $4,065 SMA Key for XAU/USD Buyers
Gold extends its recovery to a third straight day after hitting two-week lows near $4,024, with acceptance above the 21-day SMA at $4,065 seen as critical for buyers.
XAUUSD
Gold is building on its recovery from two-week lows of $4,024 reached last Friday, extending the winning streak into a third consecutive day. The precious metal's price action now focuses on the 21-day Simple Moving Average (SMA) at $4,065.
Analysts note that acceptance above this level is critical for XAU/USD buyers to sustain the upside momentum. A clear break above the SMA could open the door for further gains, while failure may lead to renewed selling pressure.
Source: FXStreet Forex News