Gold Price News and Forecast: XAU/USD upside bias remains intact amid bullish technical setup

Gold holding strong support at 1781/78 targets 1788/90 with minor resistance at1794/96 but eventually we should test strong 100-day moving average resistance at1803/05.

Gold snapped a two-day winning streak and fell from near the $1798 region after reports that US President Joe Biden is proposing a capital gains tax hike for the wealthy to fund its social pan, which triggered risk aversion across the board.

A combination of factors failed to assist the precious metal to capitalize on its early uptick, instead prompted some fresh selling around the $1,790 region.

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Unlike BTC or ETH, XRP price shows signs of recovery as long as it stays above a critical demand zone.

Sustained USD selling, COVID-19 jitters assisted gold to regain positive traction on Friday.

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