XAU/USD Could Drop Below $1,970 as USD Index Rebounds and US Banking Worries Ease

Gold XAUUSD Bearish RichDadph

The Gold price (XAU/USD) is currently bearish, and it is expected to continue displaying weakness below $1,970.00 as the US Dollar Index (DXY) recovers. The US banking jitters have eased, which has trimmed the appeal for the Gold price as a safe-haven. The precious metal might show a significant fall after a confident break below $1,970.00, which has been a major support from the past week.