FX.co ★ Technical review for XAU/USD: price is likely to increase

Gold found support at 1831.65, thanks to the growing positive sentiment on the markets and weakening in dollar demand. If the upcoming US inflation data do not let us down, price will continue to climb.

technical picture:

The quote is below the middle line of the Bollinger indicator, above the SMA 5, but below the SMA 14. The relative strength index (RSI) is below 50%, but is moving up while the stochastic indicator is leaving the oversold zone.

Possible dynamics:

Gold may increase to 1865.65.