Gold Price Forecast: $1,915 in sight for XAU/USD ahead of key US Data – Confluence Detector – by anilpanchal7 Gold XAUUSD PMI Confluences Commodities
and risk-off mood. It’s worth mentioning that the fears of the US default joined strong US ADP Employment Change to propel the US Dollar and drown the XAU/USD the previous day.
Elsewhere, China’s upbeat Caixin Manufacturing PMI also puts a floor under the XAU/USD price and hence needs strong negatives from Beijing to keep the Gold bears hopeful.Gold Price: Key levels to watch It should be noted that a convergence of the previous weekly low, Pivot Point one-week S1 and Fibonacci 38.2% on one-day restricts the immediate upside of the Gold Price near $1,940.
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