Gold price is recovering ground from the weekly low of $1,914 ahead of a busy Friday, packed with preliminary global PMI data releases. The United States Dollar (USD) is taking a breather even though the US Treasury bond yields are setting fresh multi-year highs. Gold price is challenging the critical support-turned-resistance at $1,925, which is the meeting point of the 21- and 200-Daily Moving Averages (DMA). A firm break above the latter is needed to unleash additional recovery toward the 50 DMA at $1,930. Further upside will hinge on acceptance above the 50 DMA, with eyes on the $1,950 barrier next. The 14-day Relative Strength Index (RSI) indicator is sitting just beneath the 50 level, raising doubts about the Gold price rebound. On the downside, the weekly low of $1,914 could be retested, reopening floors toward the $1,910 round figure. The next critical support awaits at the $1,900 threshold.
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