Gold Price Analysis: XAU/USD recovery fails at $1,880, pulls back to $1,870 – FXStreet

• Gold’s recovery from $1,850, rejected at $1,880.
• XAU/USD fails to take advantage of the positive market mood.
• Breach of $1,850 support might accelerate the downtrend.

Gold futures are consolidating above $1,870 ahead of the weekly close after having been rejected at $1,880 earlier today. Bullion has managed to bounce up fro key support at $1850 although it remains below $1,900.
The yellow metal has failed to take advantage of the positive market sentiment triggered by drugmaker Pfizer’s announcement…

Click here to view the original article.