FX.co ★ Technical review for XAU/USD: growth may resume, but it will be limited

Gold is currently consolidating in a narrow range, driven by the correction seen in dollar and local decrease in US Treasury yields. Price is above 1810.00, but it may hit higher levels if dollar continues to decline.

Technical picture:

The quote is above the middle line of the Bollinger indicator, above the SMA 5 and SMA 14. The relative strength index (RSI) is moving towards 50%, and its achievement will be a signal to buy.

Possible dynamics:

Spot gold will reach 1856.00 if pressure on dollar persists.