May 17, 2021 18:36 GMTFXStreet News Risk-on mood favors gold buyers amid downbeat US dollar, Treasury yields. Sluggish US data cools down inflation concerns, helps Fed to defend easy money policies. Geopolitical, covid headlines can offer intermediate moves but nothing major to keep a tab on. Gold Weekly Forecast: XAU/USD bulls eye $1,850 after regaining control. Gold Forecast: XAU/USD eyes additional upside towards $1880. Gold is surging again, but can prices push above 1900? [Video]. How to Invest in Gold: Six Options to Consider. Update May 17: After rising nearly 1% and closing the week on a firm footing on Friday, the XAU/USD pair preserved its bullish momentum on Monday and extended its rally after breaking above the critical 200-day SMA at $1,850. At the moment, the pair is rising 1.3% on a daily basis and trading at its strongest level since early February at $1,866. In the absence of significant fundamental drivers, the technical breakout seems to have fueled another leg up in gold. Meanwhile, the 10-year US Treasury bond yield is having a difficult time staging a rebound after suffering heavy losses in the second half of the previous week and helps gold continue to find demand.