Gold is in retreat mode as the mood improves, but bears remain cautious XAU XAUUSD $XAU $XAUUSD
amid the Russian war against Ukraine. The invasion continues, and the Kyiv government reported hundreds of civil casualties, while sanctions against Moscow keep piling up. The second round of talks was scheduled for this Wednesday, but at the time being, those have not started. Nevertheless, the Russian negotiator said that a ceasefire would be discussed at talks with the Ukrainian delegation.
Earlier in the day, the EU released the preliminary estimate of the February Consumer Price Index, which jumped to a record high of 5.8% YoY. European policymakers are also jawboning about a tighter The near term picture hints at further declines. The pair is barely holding above a flat 20 SMA, while technical indicators head firmly lower, and are poised to pierce their midlines. The longer moving averages, however, head firmly higher, well below the current level. A slide through 1,912.00 should open the door for a steeper decline towards the 1,890 price zone.View Live Chart for the XAU/USD
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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