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Gold Analysis: Bearish potential intact, awaits US CPI

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    As anticipated, XAU/USD (gold prices in terms of the US dollar) consolidated to the downside on Monday, although remained in a slim range above 5-DMA then at 1087.13, as low volumes and a lack of economic news on account of Martin Luther King holiday failed to provide fresh impetus to the bullion. While traders remained on the back foot ahead of Tuesday’s Chinese data-deluge, which could have major impact on the gold prices. China is the world’s second largest consumer of gold. In today’s

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