Gold Price Forecast: XAU/USD needs acceptance above $1795 to retake $1800 and beyond – Confluence Detector

Gold makes another towards $1800 because the US dollar meets fresh supply.
Investors reassess Friday’s US NFP report amid holiday-thinned trading.
Gold Weekly Forecast: XAU/USD fails to clear key resistance at $1,790
Gold price catches a fresh bid and retests the two-week highs at $1795 on Monday, drawing support from the renewed weakness within the US dollar across the board. The greenback resumes its post-NFP downside after a quick rebound earlier on, in response to weaker Chinese Caixin Services PMI and persisting Delta covid strain worries. However, the dollar’s recovery appears to possess faltered amid holiday-thinned market conditions while investors reassess the chances of the Fed’s hawkish policy action after the US payrolls outpaced expectations by 150K last month, with the Unemployment ticking higher to five .9%.

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