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XAUUSD ( GOLD ) 25 MAY 2022 WEDNESDAY

XAUUSD ( GOLD ) 25 MAY 2022 WEDNESDAY

Gold Price is bull run for the fifth consecutive day, although it is developing below the weekly high posted earlier on Tuesday at $1,869.75. XAUUSD’s daily chart offers a neutral stance, as technical indicators remain around their midlines, lacking clear directional strength and forming higher high and higher low pattern in Daily chart. Now it is facing immediate resistance of $1870, if it closed above this mark then we can see next resistance zone of $ 1885 and $ 1900. The US dollar made a solid comeback and reversed a major part of the overnight losses to a one-month low. This, in turn, was seen as a key factor that undermined the dollar-denominated commodity. On down side Gold is taking support of its trend line the break out of trend line is near $ 1843 below this mark we can see next level of $1830 and $1810 in upcoming days.