Gold is trying to recover higher in early-week trade after the US dollar currency gave back recent gains after last Friday’s US monthly jobs report. The price of gold needs to hold above the pivotal $1,775 level this week in order for a recovery in the yellow-metal to take hold. Gold bulls ideally need to hold to break above a triangle pattern and advance past the $1,800 resistance barrier.
XAUUSD is only bullish while trading above the $1,775 level, key resistance is found at the $1,800 and the $1,820 levels.
If XAUUSD trades below the $1,775 level, sellers may test the $1,750 and $1,730 support levels.
