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Gold Price Forecast: XAU/USD surrenders modest intraday gains, flirts with $1,800 mark

FXStreet.com
 2021-07-26

Cover picture for the articleGold price is back on the bids after defending key support around $1798. Risk-off mood-driven sell-off in Treasury yields lifts gold price. Update: Gold struggled to capitalize on its modest intraday gains, instead met with some fresh supply near the $1,811-12 region and has now dropped to the lower end of its daily trading range. Currently hovering around the $1,800 round-figure mark, the XAU/USD has been oscillating in a range over the past one week or so and was influenced by a combination of factors. Worries about the economic fallout from the fast-spreading Delta variant of the coronavirus weighed on investors' sentiment. This was evident from a generally weaker tone around the equity markets, which acted as a tailwind for the safe-haven gold.

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