XAU/USD: Gold Extends Recovery Towards $2000 Barrier

<p><img width="612" height="340" src="https://www.actionforex.com/wp-content/uploads/2022/03/f-gold99.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" srcset="https://www.actionforex.com/wp-content/uploads/2022/03/f-gold99.jpg 612w, https://www.actionforex.com/wp-content/uploads/2022/03/f-gold99-600×333.jpg 600w, https://www.actionforex.com/wp-content/uploads/2022/03/f-gold99-150×83.jpg 150w, https://www.actionforex.com/wp-content/uploads/2022/03/f-gold99-300×167.jpg 300w" sizes="(max-width: 612px) 100vw, 612px" /></p>
<p>Gold rose to ten-day high on Friday and almost fully retraced last week’s 2.7% drop, driven by growing demand on hopes that the Fed’s tightening cycle is close to its end. Fresh extension on Friday cracked Fibo barrier at $1991 (76.4% of $2009/$1931), confirming bullish signal generated on close above 20DMA ($1974) and signaling that […]</p>
<p>The post <a href="https://www.actionforex.com/contributors/technical-analysis/527883-xau-usd-gold-extends-recovery-towards-2000-barrier/">XAU/USD: Gold Extends Recovery Towards $2000 Barrier</a> appeared first on <a href="https://www.actionforex.com">Action Forex</a>.</p>