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Gold Price Analysis: XAU/USD bears stepping in at a critical resistance zone

12 days ago   |   By FXCM

Gold meets resistance and there are prospects of a significant correction.
US dollar pressured by falling US Treasury yields.
Gold prices were elevated again on Thursday as the US dollar dipped to a fresh low on the back of sliding US yields.
At the time of writing, XAU/USD is trading at $1,754.55 having popped from a low of $1,733.26 to a high of $1,758.72 on the day.
US Treasury yields were losing ground again due to the fresh dovish comments from Federal Reserve Chair Jerome Powell.
Also, worse-than-expected initial jobless claims that highlighted the economy's bumpy recovery from the...
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