FX.co ★ Technical review for XAU/USD: gold will extend its rally

Gold remains trading above 1857.75, thanks to growing risk appetite and weakening demand for the dollar. If positive sentiment carries on, price will rise even more.

Technical picture:

The quote is above the middle line of the Bollinger indicator, above the SMA 5 and SMA 14. The relative strength index (RSI) is above 50% and is growing steadily, similar to the stochastic indicator, which continues to move up .

Possible dynamics:

Spot gold is likely to increase to 1886.45.