Gold price consolidates previous losses. XAU/USD has more room to the upside on acceptance above $2,000, FXStreet’s Dhwani Mehta reports.

Retracement in XAU/USD could find buyers initially at $1,970

“Acceptance above the $2,000 mark is critical to sustaining the recent bullish momentum. The next upside target for Gold buyers is seen at the yearly high of $2,010. Further up, all eyes will be on the 2022 top of $2,071 and the all-time high at $2,075.”

“On the flip side, the retracement in the Gold price could find buyers initially at the $1,970 round figure, below which the previous day’s low at $1,966 will be tested. Gold sellers will then challenge the February high at $1,960, which could be a tough nut to crack.”