XAU/USD kicked off Tuesday trading near $1,919 before seeing a steady rise into an intraday high of $1,931.65, but the day's momentum is proving short
Spot Gold prices are slipping back into the middle after Tuesday saw a push above $1,930. XAU/USD remains well-bid, sticking to the high end of last week's rally. Inflation fears remain a key factor in Gold prices as investors keep one foot in safety. -lived as Gold bids settle back into near-term consolidation $1,920. US Retail Sales broadly beat market estimates, with the headline figure for September printing at 0.7% versus the forecast 0.
XAU/USD Technical Outlook Near-term action sees spot Gold prices bidding into the 50-hour Simple Moving Average , with action hobbled near $1,920 and bidders struggling to take XAU/USD higher, while short-sellers are seeing significant headwinds with Gold prices firmly bullish and trading well above the 200-hour SMA. Daily candlesticks see XAU/USD facing a technical rejection from the 200-hour SMA near $1,930 after a 6.
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